Coronavirus Live Updates: As Pandemic Ravages Budgets, States Cut and Borrow to Balance Books
Here’s what you need to know: ImageOhio’s governor ordered cuts to close a $777 million budget gap.Credit…Ty Wright for The New York Times As the virus devastates tax revenues, states must follow balanced-budget laws. In February, Ohio was running a $200 million budget surplus. Then the coronavirus pandemic struck, and two months later — as…