evidence: Nationwide, our analysis is encouraging: Thirty-eight states (including large states such as Florida, New Jersey, and Texas, as well as smaller states like Iowa and Maine) face a low risk of encountering such cliffs. But among the most populous states, California, Illinois, Michigan, New York, and Pennsylvania used SLFRF to cover recurring costs that are equivalent to a significant 2.5 percent or more of their fiscal 2022 general fund expenditures and thus face a moderate to elevated likelihood of encountering a fiscal cliff when federal dollars run out. These big states contain 28 percent of America’s population and almost one-third of total state general fund spending. Several smaller states, including Alaska, Maryland, Nevada, Oregon, Utah, West Virginia, and Wyoming, also tapped SLFRF for at least 2.5 percent of general fund expenditures and face fiscal cliff risks. (We detail use of SLFRF funds by the eleven biggest states in the State Report Cards section of this paper.) [...] Office of the New York State Comptroller, Identifying Fiscal Cliffs in New York City’s Financial Plan, May 30, 2023, https://www.osc.state.ny.us/reports/osdc/identifying-fiscal-cliffs-new-….