Can rainy day funds offset the COVID-19 caused revenue shortfalls?

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Trying to work out who will have money to keep existing programs running and possibly launch new ones? You are not alone! This map from the Tax Foundation lays out the status of the rainy day funds as of April 2020. It ranks all 50 states and the percentage indicates how much of a state’s general fund expenditures could be covered.

How Healthy is Your State’s Rainy Day Fund?
Rainy Day Fund Balances as a Percentage of General Fund Expenditures

Source: Tax Foundation

The other side of the coin!
The National Conference on State Legislatures has been tracking the projected fiscal year 2020 and 2021 revenue shortfalls for the states and updated their grid on June 24. When you compare that information to the rainy day funds, the situation looks bad for some states but others will be able to mitigate the shortfalls given their ability to set aside money.

Revised State Fiscal Year 2021 Revenue Declines

Source: NCSL

Where states are in their reopening plans
The Washington Post has done a nice job of charting all 50 states and their reopening plans. Below their map you will see details for each state including a chart of their COVID-19 cases by day and a weekly average line.

Where states are reopening after the U.S. shutdown

Source: Washington Post

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