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Treasury says some state tax cuts OK under Biden relief act

Joe Biden Janet Yellen state Missouri city Jefferson City, state Missouri pandemic bill Department
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JEFFERSON CITY, Mo. – Responding to concerns from state officials, the U.S. Treasury Department said Wednesday that states can cut taxes without penalty under a new federal pandemic relief law — so long as they use their own funds to offset those cuts.

Republican governors, lawmakers and attorneys general have expressed apprehension about a provision in the wide-ranging relief act signed by President Joe Biden that prohibits states from using $195 billion of federal aid “to either directly or indirectly offset a reduction” in net tax revenue.

The restriction could apply through 2024. Republican attorneys general from 21 states wrote to Treasury Secretary Janet Yellen seeking clarification on the prohibition, which they said could be

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
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Cases: 21 835 785
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Cases: 9 215 683
Deaths: 141 607
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Russia
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Deaths: 237 619
Recovered: 0
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Covid-19.rehab - the latest news concerning the spread of the SARS-CoV-2 coronavirus (formerly 2019-nCoV), as well as the infectious disease that it causes COVID-19, in separate countries and in the world as a whole. Current news on the topic of coronavirus SARS-CoV-2. Quarantine, pandemic 2020, epidemic: what is it, when will it come to end, precautions and how to protect yourself from this disease. The most honest news, no fakes! To keep up with the latest news, stay tuned for updates on the site! Every day we will collect news and statistics on coronavirus from around the world for you to be aware of this topic.

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