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Most States Recovered from Great Recession Pre-Virus, Study Says

Sept. 4, 2020, 7:37 PM

New data from Pew Charitable Trusts shows tax revenue in all but six states had fully recovered from the Great Recession just before entering the latest economic downturn.

Up until the Covid-19 outbreak hit during the first quarter of 2020, states coffers had been enjoying a 10-year stretch of growth, bringing many—with inflation factored in—to revenue levels recorded before the stock market last crashed, according to findings released Friday. But double-digit gains across half the country came to an abrupt halt in March as the world entered the latest recession.

The independent nonprofit also published data showing declines in state ...