(Commentary by Raymond Scheppach, professor of public policy) During the summer of 2020, there were many news reports about the impending state fiscal crisis due to the pandemic. A July 7 article on CNBC with the headline “Cuts to basic services loom as coronavirus ravages local economies and sends states into fiscal crisis” reflected the concern. State officials were very worried that the pandemic would bring huge reductions in tax revenues and huge hikes in Medicaid spending, and I was in agreement with these concerns.