No Tax Cuts For You
Democrats snuck a provision into their nearly 2-trillion dollar Covid bailout bill prohibiting states from cutting taxes for 4 years if they accept any Covid money. With today's ALG Minute, I'm Catherine Mortensen. Steve Moore is a former economic adviser for the Trump administration. He says many states have budget surpluses and want to return that money to the taxpayers.
Steve Moore: "I've never seen anything like this in a piece of legislation I don't think it's constitutional. I'm not a constitutional scholar, but how can the federal government tell the states how they spend their money, what they can do with their tax codes, again it gets back to this point that the Democrats don't want these red states to be cutting their taxes, and using that as an incentive for people to leave states like New York and New Illinois and going to places like Florida, Texas.
Moore said Nebraska, West Virginia, Mississippi, and Utah are all looking at eliminating their income tax to become more competitive, but the Covid bailout slams the brakes on that - saying, You cannot cut your taxes.
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