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Federal aid could hobble new state tax cuts and credits By Paul Bonner A condition attached to $350 billion in relief for state and local governments by the American Rescue Plan Act (ARPA), P.L. 117-2 that states may not use the money to offset their own tax reductions may prove problematic, and is perhaps unconstitutional, tax practitioners said. ARPA’s Coronavirus State Fiscal Recovery Fund appropriates $220 billion in fiscal year 2021 for states, U.S. territories, and Tribal governments to mitigate the fiscal effects of the COVID-19 pandemic, available through the end of 2024. Another $130 billion is earmarked for similar payments to cities, counties, and other local governments (Section 9901 of ARPA, Title IX, Subtitle M). The funds may be used for a broad range of state and local governmental costs and aid, assisting households, small businesses, and not-for-profit organizations. The money may be used for grants and premium pay to essential workers, infrastructure inves

United statesNew mexicoJanet yellenJamie yesnowitzDave yostLaura schultzWashington national taxCoronavirus state fiscal recovery fundTax executive committeeGrant thorntonRockefeller institute of governmentHow is congress or treasuryAmerican rescue plan actState fiscal recovery fundSocial security actLocal tax