Depending on recovery, state's deficit could soar to $126 billion.

The loss of $1.03 billion in revenues prompted state lawmakers to ask congressional delegates to support a $500 billion relief package for states.

IRS General Counsel Michael Desmond said Wednesday his office has received “a number of requests” for extending deadlines.

Uncertainty surrounding whether colleges and universities can safely open their doors this fall adds stress to the already challenged higher education sector.

With tax revenues plummeting, one additional solution policymakers could consider would throw state and local governments a revenue lifeline: uncapping and funding the Community Disaster Loan program.

The pandemic is taking a toll on tax receipts, leading the central bank to establish a municipal debt facility. Without a turnaround, the consequences for the financial system could be dire.

In the midst of issuer credit deterioration due to coronavirus, muni yields fell and new-deals were priced on the heels of California's $54 billion deficit news.

The city will ask the Louisiana State Bond Commission to authorize issuing up to $100 million of revenue notes.