‘Unprecedented’: States face hundreds of billions in lost revenue, NBC News finds

The coronavirus pandemic will cost states hundreds of billions of dollars in revenue in the upcoming fiscal year, according to an NBC News survey of 33 states and Washington, D.C.

With most states starting their new fiscal year early this summer, the projections in many cases will serve as the basis for severe budget cuts states may have to make if massive federal government aid doesn’t come soon. Though, the nature of the crisis makes forecasting the future incredibly difficult, officials said.

Every state that responded to the NBC News survey reported it faces a revenue loss — that includes large states and small across the country, some red and others blue — although not every one said it’d be forced to make budget cuts soon.