States see $31 billion of taxes disappear due to covid recession
states saw their tax revenue drop by about $31 billion, or 6%, from March through August, compared to the same period a year earlier, as the pandemic triggered economic shutdowns across the country, according to a data from 44 states compiled by the Urban Institute.The scale of the drop appears smaller than expected, relative to the depth of the economic contraction, and comes after several states have reported that their revenue didn’t decline as much as anticipated despite business shutdowns and increased unemployment.
In August, when much of the country was reopening, state revenue climbed about 1.1% from a year earlier, the Urban Institute found.The tax figures come as Republicans in Washington balk at extending aid to states and cities.
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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