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Early projections had states losing big in tax revenues over the next two FYs due to Covid, some by as much as double-digit percentages, which would be dire for public colleges. It now appears it may not be so bad for some states in the short term. /1 https://www.nytimes.com/2020/12/18/upshot/pandemic-surprising-state-revenue.html?referringSource=articleShare
Looks like states with more wealthy residents and progressive income taxes did better than expected, and that federal stimulus dollars really did stimulate the economy. States that, say, rely heavily on hard-hit industries like tourism still face a grim picture. /2
Once again, like so many other aspects of the pandemic, there’s plenty of pain to go around, but it isn’t evenly distributed. /3
Of course, nothing has gone as expected so far, so who knows what will change between now and next December? /4
