Political Quotes

“Mr. President, I ask unanimous consent that the reading of the amendment be dispensed with. The PRESIDING OFFICER. Without objection, it is so ordered. The amendment is as follows: (Purpose: To provide Federal reimbursement to State and local governments for a limited sales, use, and retailers' occupation tax holiday, and to offset the cost of such reimbursements) On page 268, between lines 11 and 12, insert the following: SEC. __. STATE AND LOCAL SALES TAX RELIEF FOR CONSUMERS. (a) In General.--The Secretary shall reimburse each State for 75 percent of the amount of State and local sales tax payable and not collected during the sales tax holiday period. (b) Determination and Timing of Reimbursement.-- (1) Predetermined amount.--Not later than 45 days after the date of the enactment of this Act, the Secretary shall pay to each State an amount equal to the sum of-- (A)(i) 75 percent of the amount of State and local sales tax payable and collected in such State during the same period in 2009 as the sales tax holiday period, times (ii) an acceleration factor equal to 1.73, plus (B) an amount equal to 1 percent of the amount determined under subparagraph (A) for State administrative costs.…”