State revenues have not taken as much of a hit as was once feared, but state lawmakers still face the difficult task of balancing responses to reduced revenues with efforts to help facilitate the economic recovery. In this final session, we will review the latest revenue data, survey state responses to the Great Recession and prior economic downturns, explore the state tax implications of federal relief packages, and outline states’ options.
Drawing upon earlier discussions, we will close out the legislative boot camp with a timely discussion of tax policy choices, on issues ranging from UI tax adjustments to tax conformity measures to the advantages and disadvantages of different revenue-raising options.
Areas of Focus
- State tax collection figures and the latest revenue projections
- Interactions between the federal response and state tax revenues
- Tax policies to aid the economic recovery
- Revenue options for states facing shortfalls
- State Aid in American Rescue Plan Act Is 116 Times States’ Revenue Losses
- Four Questions Treasury Must Answer About the State Tax Cut Prohibition in the American Rescue Plan Act
- Does the American Rescue Plan Ban State Tax Cuts?
- Which States Are Taxing Forgiven PPP Loans?
- More Than Half the States Will Protect Businesses from Certain COVID-19-Related Unemployment Insurance Tax Hikes
- Tax Policy After Coronavirus: Clearing a Path to Economic Recovery