The gap between recent and long-term tax revenue volatility has continued to widen. Revenue fluctuations were greater in every state from fiscal year 2020 to fiscal 2024 than they were over the 15 years ending in fiscal 2024, underscoring how the COVID-19 pandemic-driven economic shock affected virtually all tax systems. The states with the largest increases in short-term volatility compared with long-term trends tended to be those that rely most on historically volatile tax sources, but even states with traditionally stable revenue structures faced greater-than-usual swings.
This special crossover episode between “After the Fact” and the World Wildlife Fund’s (WWF’s) “Nature Breaking” podcast dives into the topic of nature finance. And with an estimated $1.2 trillion needed annually by 2030 to halt biodiversity loss, this funding needs to be secured quickly and on a large scale.
Scientists have long recognized coastal wetlands—marshes, tidal forests, seagrass meadows, and mudflats—as unsung environmental powerhouses. They capture 4.8 million metric tons of carbon dioxide each year, an annual rate equivalent to removing roughly 1.12 million vehicles from the roads, and deliver an estimated $23 billion in storm-protection benefits in the U.S. alone.
States are facing an $86 billion shortfall over the next decade for maintaining roads and bridges. And the U.S. is among the most expensive countries for transportation construction—projects typically cost more than three times as much as in other upper- and middle-income economies.
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Communities throughout the country share common needs: affordable connections to broadband Internet, modern and reliable energy infrastructure, effective responses to mental health challenges, and ways to resolve legal disputes more quickly and fairly. To address these issues, Pew collaborates with states and local governments to find and promote evidence-based solutions that help provide stability and opportunity.
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The global ocean teems with life, and it contributes to the vital cycles that keep people and our planet healthy. But the seas are vulnerable to overfishing, loss of habitat such as seagrasses and mangroves, ineffective fisheries management, plastic pollution, and declining biodiversity. These mounting losses affect the coastal communities that depend on the ocean for food and jobs.
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Conserving natural spaces conveys benefits far beyond the gains to wildlife and their habitats. As scores of studies show, protecting and restoring lands and waters, particularly when done in close partnership with local communities, also improves people’s lives—and local economies—by increasing tourism and outdoor recreation.
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Collaboration powers scientific discovery. Now 14 accomplished researchers are teaming up to lead such a charge as The Pew Charitable Trusts’ 2025 Innovation Fund investigators. The new class, announced Dec. 9, brings together pairs of leading scientists whose studies span immunology, cancer biology, biophysics, and more. Through their interdisciplinary partnerships, these investigators will explore creative research projects at the forefront of health and medicine.
We are living in a time of remarkable medical innovation. While new medications and surgical techniques continue to be discovered, delivering relief for patients and their loved ones, some of the newest advancements are awe-inspiring in their potential to touch every one of us.
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