Budget Stress Tests Help State Leaders Identify and Assess Risk

Budget Stress Tests Help State Leaders Identify and Assess Risk

In a memo to Colorado’s Office of State Planning and Budgeting, experts from The Pew Charitable Trusts explain how budget stress tests—which examine the impact of various economic scenarios on revenues and expenditures—help states identify their risk from adverse events such as economic downturns. The memo, sent Aug. 20, 2021, outlines how states can design budget stress tests, how such tests can inform policy, and how other states have employed this fiscal tool.

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Economic Downturns: Protecting State and Local Budgets

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In particularly challenging times, when revenue is volatile and priorities may need to be reassessed, it is important that lawmakers manage budgets effectively to mitigate fiscal stress.

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Money dust
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State Strategies for Maintaining a Balanced Budget

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Many states ended 2017 flush with unexpected cash. Federal legislation that caps some tax deductions beginning in 2018 prompted many Americans to prepay their state and local taxes. While this surprise revenue was positive news for state budgets, several policymakers struck a cautious tone.

America’s Overdose Crisis
America’s Overdose Crisis

America’s Overdose Crisis

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America’s Overdose Crisis

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37 Scientists Pioneering the Future of Biomedical Research

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Article

Biomedical researchers are at the heart of nearly every medical advancement. From cutting-edge cancer treatments to breakthrough discoveries about emerging viruses, these scientists use creativity and ingenuity to explore new horizons in human health and medicine. And for nearly 40 years, The Pew Charitable Trusts has supported more than 1,000 early-career researchers committed to this work.

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Street map art, three prints in blue, white and black
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States Can Direct Economic Development to Places in Need

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Data from an array of sources has shown that Americans who grow up in economically distressed areas experience lower-performing schools, higher crime rates, a variety of health and environmental hazards, and less upward mobility.

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Learn the Basics of Broadband from Our Limited Series

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How does broadband internet reach our homes, phones, and tablets? What kind of infrastructure connects us all together? What are the major barriers to broadband access for American communities?