Nevada Seen As Among Neediest States For COVID-19 Aid

Entire Rainy Day Fund Diverted To Help With Budget Shortfall

Mitch Kelly
June 01, 2020 - 6:58 am
Volunteers load food items into vehicles at the Cure 4 The Kids Foundation pediatric cancer treatment center amid the spread of the coronavirus on May 14, 2020 in Las Vegas, Nevada.

Ethan Miller/Getty Images

LAS VEGAS, NV (KXNT) - The coronavirus pandemic has consumed states’ resources at an unprecedented rate as they struggle to provide both medical and financial support to their residents, despite taking in far less tax revenue than usual.

For example, New York, the state hit hardest by COVID-19, has a staggering $13.3 billion budget shortfall. While many states are beginning to reopen business in stages in an effort to restart their economies, they have months of economic damage and millions of job losses to reckon with. All states are struggling during this crisis, but some are more prepared financially to survive it than others.

In order to determine the states that may need the most financial help due to COVID-19, WalletHub compared the 50 states across 18 unique metrics.ranging from the state’s rainy-day funds per capita to state and local debt per capita to the share of the workforce in highly-affected industries. 

Its no surprise to see Nevada amongst the neediest states, coming in 8th overall.

The only states in worse shape, according to the WalletHub study? Louisian, Kentucky, Florida, New Hampshire, New York, Illinois and New Jersey.

The three states seen as needing the least amount of finacial assistance? Iowa, Wyoming and South Dakota.

For a look at the full WalletHub study, click here.