The Federal Reserve Bank of Cleveland, pictured in a 2014 Plain Dealer file photo, released a report detailing how stimulus money from the American Rescue Plan compares to state, county and local governments' annual tax revenues.The Plain Dealer
CLEVELAND, Ohio – How much of a difference could Cleveland’s $511 million, Cuyahoga County’s $239 million and Ohio’s $5.4 billion from the American Rescue Plan make in communities?
According to a recent report from the Federal Reserve Bank of Cleveland, we can find the answer by comparing a state or local government’s stimulus cash with its 2020 tax revenue. Cleveland’s windfall exceeds its 2020 tax revenue, while Cuyahoga County’s is about 30% of its tax collections and Ohio’s is about 17%.
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