Businesses and economies across the world are feeling the impact of COVID-19. Despite having a robust economy just over a month ago, the effects of the virus are already slowing the economy. Unemployment rates in the U.S. are skyrocketing and businesses are facing potential and real closures because of new policies that attempt to limit the spread of COVID-19. As a result, governors are looking for ways to mitigate the economic impact and to provide relief to businesses and communities. This memo reviews steps that governors can take to mitigate the economic impact of COVID-19, including efforts to provide rapid relief to businesses and communities.
All NGA coronavirus memos can be found here, or visit Coronavirus: What You Need To Know for current information on the status of COVID-19 In The United States, a list of actions states/territories have taken to address both the public health and economic impacts, and policy resources.