What Does the Coronavirus Recession Mean for School Finance?
With the U.S. economy having ground to a halt and the nation suddenly thrust into a recession, what are the implications for K-12 education funding?
States are anticipating huge drops in revenue for the upcoming fiscal year because of declines in sales tax revenues and soaring unemployment rates sparked by the coronavirus pandemic. Local revenues that support schools also are expected to decline. The federal stimulus package signed by President Trump in late March will provide some short-term relief, but experts predict it will fall far short of what’s needed to avoid cuts for schools.
This EWA webinar helps education reporters around the nation better understand what’s at stake for schools, what kinds of cuts might be on the horizon, and the questions they should be asking of local and state officials during this unprecedented situation. Presenters also look back to prior recessions for lessons to keep in mind.
- Michael Griffith, independent expert on school finance
- Karen Hawley Miles, Education Resource Strategies
- Kevin Mahnken, reporter, The 74 (moderator)
This webinar was presented on April 16, 2020.