Daily Dime

Louisiana is woefully unprepared for the imminent pandemic-induced recession, and there is reason to believe the economic damage will be worse here than in other states. LBP’s executive director, Jan Moller, in a guest column for the Advocate, explains why many Louisiana workers are so vulnerable to the economic devastation caused by the coronavirus pandemic and why the state should move quickly to address the holes in its public safety net: 

To be sure, even the best-prepared states are poorly equipped to deal with a sudden economic downturn.

Louisiana’s cratering state economy will almost certainly require a downgrade in the state revenue forecast, which in turn will require major changes to the $32 billion state budget proposed for the upcoming fiscal year. Significant adjustments will also be needed in the current-year budget, which runs through June 30.… Read more...

The coronavirus presents an unprecedented challenge to state governments, with public health and economic crises poised to hit every state at once. A team of subject-area experts at the Center on Budget and Policy Priorities offers a list of policy recommendations to meet these profound economic challenges.… Read more...

The Families First Coronavirus Response Act, signed into law Thursday, provides emergency paid sick and family leave, emergency unemployment insurance and increased food assistance for the growing number of Americans whose finances are being upended by the crisis. But as Elise Gould and Heidi Shierhold of the Economic Policy Institute explain, this bill is only a start, and significantly more federal action is needed:

The bill has some glaring exclusions.