Here are the 19 US states that are in the best fiscal position for a recession
State governments could begin to feel economic pain soon as well. Personal income tax and sales tax contribute the most to a state's revenue, and those sources will be affected by a decrease in consumer spending and increase in job layoffs, according to a report from
Pew suggests states will have to use their "rainy day funds" or request more federal aid to fix budget gaps amidst the coronavirus outbreak.of the fiscal position of states that across the nation, there have been "record amounts in both rainy day funds and total balances", which could come in handy during a recession.
To get a sense of which states are most ready for hard economic times, we used state government finance data from thefor the 2018 fiscal year, the most recent available. We ranked the states based on the difference between government holdings of liquid assets and total government debt at the end of the fiscal year, adjusted by 2018 estimated stateAlaska, Wyoming, and North Dakota ranked at the top of the list because of their state's large cash and security holdings compared to their debt.
The following are the 19 states that are in the best fiscal position for a potential recession, along with various state government finance figures.
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