Alva Review-Courier -

Treasury says some state tax cuts OK under Biden relief act

 

March 18, 2021



JEFFERSON CITY, Mo. (AP) — 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 20...



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