Political Quotes

“I will enter this letter into the Record, but I would like to read the key sentences. And to the Senator from Indiana, if I could read this letter to you and to make sure that--I don't know how--I have spoken to my attorney general, who was one of the original cosigners, and I said: Mr. Attorney General, I want to explain this in English because it is very easy to understand. It says this: Nothing in the Act prevents States from enacting a broad variety of tax cuts. Do whatever you want. That is, the Act does not ``deny States the ability to cut taxes in any manner whatsoever.'' This comes from the Secretary of Treasury. It simply provides that funding received under the Act may not be used to offset a reduction. . . . That you choose, unless it is COVID related. It makes all the sense in the world. It has to be COVID related. If States lower certain taxes but do not use funds under the Act to offset those cuts--for example, by replacing the lost revenue through other means--the limitation in the Act is not implicated. They can do whatever they want to. And if they can show other revenue to offset it, that is great. They just cannot use the Treasury's money that the people have invested in their States for that purpose. It also says this: It is . . . important to note that the States choosing to use the Federal funds to offset a reduction in net tax revenue do not thereby forfeit their entire allocation of funds appropriated under this statute.…”