Texas Attorney General Sues Biden Over Dictating State Tax Policy

Texas Attorney General Ken Paxton Has Filed His Ninth Lawsuit Against The Biden Administration, This Time Over A Provision In The Federal Government’s American Rescue Plan Act That States That To Receive The Funds, States Cannot Use Them To “Directly Or Indirectly” Offset Tax Revenue By Cutting Taxes.

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21 Attorneys General Fear American Rescue Plan Could Hijack State Tax Policy

The Attorneys General Sent A Letter This Week To Treasury Secretary To Confirm That Provisions In The American Rescue Plan Do Not Attempt To Strip States Of Their Sovereign Authority. They Argue Language In The Act Is Too Broad And Could Be Interpreted As A Blanket Policy.

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The Now-Complete Democrat Trifecta Threatens Tax Hikes

Though tax policy may have taken a backseat in these Georgia elections, the results raised the chances of significant tax hikes, and the undoing of progress made in the 2017 Tax Cuts and Jobs Act (TCJA), substantially. The most likely tax hikes that President Joe Biden will push for with a Democratic Congress are increases to income tax rates. During the campaign, Biden proposed to raise the top individual income tax rate from 37 percent to 39.6 percent. Taxpayers can only hope that Congress shows restraint and avoids sweeping changes that harm an economy that needs all the help it can get in the middle of a pandemic.

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