FILE - In this Sunday, March 22, 2020 file photo, Gov. Gina Raimondo gives an update on the coronavirus during a news conference in the State Room of the Rhode Island State House in Providence, R.I. Amid the continuing COVID-19 coronavirus outbreak, Raimondo is warning that the virus’ widening economic fallout could lead to government layoffs in a state that already was facing a $200 million shortfall. Rhode Island lawmakers also approved borrowing up to $300 million to…
March 26, 2020
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Coronavirus deals one-two financial punch to state budgets
The coronavirus is pounding state governments with a financial one-two punch, costing them many millions to try to contain the disease just as businesses are shutting down and tax revenue is collapsing. The sharp drop in revenue could jeopardize some states' ability to provide basic services.