How the pandemic has affected public finance

The pandemic has caused some special circumstances for state and local governments in juggling their finances. Jeffrey Previdi, the vice-chairman of the Governmental Accounting Standards Board who spent more than 20 years of his career at Standard & Poor’s Ratings Services, talked to us about what his regulatory organization has done to assist them. Previdi also talked about how GASB influences how state and local governments spend taxpayer money on such things as schools, firehouses, water treatment plants, and other infrastructure.