Wyoming revenue takes hit

Puzzle of money

Across the last two fiscal years, Wyoming forecast its revenue to be 27.2% lower than before the pandemic began—the largest loss of any state. According to a new analysis from The Pew Charitable Trusts, 22 other states also expected revenue to be lower than before the pandemic began, while a dozen states expected revenue growth.

According to that analysis, states with the largest projected losses after Wyoming were Alaska (14.1%) and Hawaii (7.4%). States anticipating the highest revenue growth over the last two fiscal years were Washington (11.5%), Idaho (10.9%), and Utah (9.4%). Although the latest federal aid package and ramped-up vaccine rollout may cause states to exceed their recent projections, drops in revenue alone understate the severity of current state budget challenges.

States are also contending with billions of dollars in pandemic-related expenses for Medicaid, safety-net services for the jobless, and costs linked to the public health crisis, such as vaccine distribution. The full report may be viewed at  pew.org/2PqYLgW .

 

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