Fiscal Policy Report Card on America's Governors 2020

47 Pages Posted: 29 Oct 2020

Date Written: October 5, 2020

Abstract

Going into 2020, the United States was in its 11th year of economic expansion and state governments were enjoying robust revenue and spending growth. Then COVID-19 hit and triggered a deep recession. State governments have seen their projected revenues decline and have started trimming spending to keep their 2021 budgets balanced. Some states had accumulated large rainy day funds and were prepared for the downturn, but other states have been overspending, accumulating debt, and saving little for the rainy day that has now arrived.

Keywords: governor, governor report card, COVID-19, coronavirus, rainy day, debt, taxes, state spending

JEL Classification: H20, H21, H29, H40, H41, H42, H43, H49, H50, H51, H53, H59

Suggested Citation

Edwards, Chris and Kemp, David, Fiscal Policy Report Card on America's Governors 2020 (October 5, 2020). Cato Institute White Paper, 2020, Available at SSRN: https://ssrn.com/abstract=3719411

Chris Edwards (Contact Author)

Cato Institute ( email )

1000 Massachusetts Avenue, N.W.
Washington, DC 20001-5403
United States

David Kemp

Cato Institute

1000 Massachusetts Avenue, N.W.
Washington, DC 20001-5403
United States

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
6
Abstract Views
63
PlumX Metrics