Bi-Partisan panel lays out case for federal replacement of state & local revenue shortfalls

This broadly bipartisan (and I would have said non-partisan) panel of economists, etc. brought together on June 1 by the Economic Policy Institute, collectively makes one of the most articulate cases I've seen for why the Federal government should replace the non-recoverable state and local tax and fee revenue shortfalls attributable to the partial economic shutdown undertaken by state and local leaders pursuant to federal guidance and direction:

https://www.youtube.com/watch?reload=9&v=kk_4IIVPBXA&feature=youtu.be&utm_source=Economic+Policy+Institute&utm_campaign=e0491e4e2b-EMAIL_CAMPAIGN_2019_02_22_11_12_COPY_01&utm_medium=email&utm_term=0_e7c5826c50-e0491e4e2b-60790045&mc_cid=e0491e4e2b&mc_eid=46e3320b6a

Three of the more striking numbers featured in this discussion:

• 1 million state and local public employees already laid off as of June 1;

• 3 million more state and local public employees projected to be laid off if the federal government does nothing to replace those non-recoverable tax and fee revenue shortfalls; and

• the economic multiplier factor for state and local employment is 1.34.

Let's all keep those numbers front and center as we assess the impact of the pandemic on states and localities and explore legislative and administrative alternatives to addressing the problem.