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People gather at Bryant Park in New York as the city reopens. Photo: Victor J. Blue/Bloomberg via Getty Images

Just over a year from the start of the pandemic and its economic slump, many states have recovered financially and are enjoying booming budgets, reports the Associated Press.

Why it matters: Surpluses in the state coffers means that states are reinvesting in "schools, social programs and infrastructure" while also putting "billions of dollars in savings," according to AP.

The state of play: States including Florida, Maryland, Colorado, New York, Utah and Washington are planning spending budgets that are up 10% or more, while Oklahoma has planned a spending budget 18% greater than its previous one, per AP.

The big picture: The abundance of spending cash is a result of both federal aid given to states as part of coronavirus pandemic relief, as well as a rebound in consumer spending as the economy opens back up and sales tax revenues increase, according to the wire service.

  • A Pew study published in May noted that state tax revenues have recovered from their pandemic-induced slump and in some cases surpassed their pre-pandemic numbers.

What they're saying: "Last year: shaky foundation. This year: solid foundation,” said Oklahoma state Sen. Roger Thompson (R), per AP.

  • “Revenues have performed much, much better than I would have ever anticipated during a pandemic,” said Missouri state Budget Director Dan Haug, per AP.

Go deeper

July sees remarkable return of incomes after massive hiring spree

Illustration: Eniola Odetunde/Axios

Incomes got a sizable boost in July. Nominal personal income grew 1.1% to $20.67 trillion during the month, accelerating from June's 0.2% monthly rise, according to Friday’s government figures.

Why it matters: July’s hiring spree and expanded child tax credits drove that growth.

Aug 30, 2021 - Health

The vaccine wave kept health care as profitable as ever

Illustration: Shoshana Gordon/Axios

Hospitals, drug companies, health insurers, medical device manufacturers and other health care suppliers generated record sales and profits during the second quarter, according to an Axios analysis of financial statements.

The big picture: Health care spending soared as Americans got vaccinated and resumed seeing their doctors between April and June. However, the coronavirus is raging again and may change behaviors going into the flu season.

Updated 43 mins ago - Health

COVID cases and deaths keep falling

Expand chart
Data: N.Y. Times; Cartogram: Kavya Beheraj/Axios

America’s coronavirus outbreak is rapidly improving as the Delta wave recedes, and vaccines for kids — which could become available within weeks — will help the situation improve even further.

By the numbers: Nationwide, the U.S. is now averaging about 79,000 new cases per day — a 22% drop over the past two weeks.