By limiting the circulation of people, and causing a surge in unemployment, the COVID-19 pandemic has affected not only private asset owners but also some of the main sources of revenue for US state governments, such as sales, income, fuel taxes, and toll collections.
On average, US state and local government revenues are projected to decline 5.5% in 2020, 5.7% in 2021, and 4.7% in 2022, according to research published in September by the Brookings Institution.
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