The Consensus Revenue Estimating Group (CREG) released the April 2020 Revenue Update on April 27, 2020. The report paints a different picture on the reality of the rest of 2020. The Co-Chairmen do provide a special note in the introduction that points to the difference in current projections that are not reflected in the report including the oil price war between Russia and Saudi Arabia along with the effects of the economic impacts associated with the COVID-19 pandemic. They note they anticipate a special, emergency meeting later this spring to update projections.
There is no doubt the “unprecedented, forthcoming decline in state (and local) government revenue” will be substantial. WTA will keep you updated with real time data and information as it is released. The full six page report can be found here.