117th CONGRESS 1st Session |
To amend the Social Security Act to remove the restriction on the use of funds under the Coronavirus State Fiscal Recovery Fund to offset reductions in State or territory tax revenues.
March 18, 2021
Mr. Bishop of North Carolina (for himself, Mr. Perry, Mrs. Hinson, Mr. Fulcher, Mr. Webster of Florida, Mr. Rosendale, Mrs. Boebert, Mr. Weber of Texas, Mr. Stewart, Mr. Walberg, Mr. Crawford, Mr. Harris, Mr. Duncan, Ms. Tenney, Mrs. Greene of Georgia, Mr. Meuser, Mr. Good of Virginia, Mr. Biggs, Ms. Herrell, Mr. Johnson of South Dakota, Mrs. Steel, Mr. C. Scott Franklin of Florida, Mr. Cloud, Mr. Owens, Mr. Gooden of Texas, Ms. Foxx, Mr. Gimenez, Mr. LaMalfa, Mr. Hice of Georgia, Mr. Williams of Texas, Mr. Feenstra, Mr. Guest, Mr. Cawthorn, and Mr. Moore of Utah) introduced the following bill; which was referred to the Committee on Oversight and Reform
To amend the Social Security Act to remove the restriction on the use of funds under the Coronavirus State Fiscal Recovery Fund to offset reductions in State or territory tax revenues.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
This Act may be cited as the “Let States Cut Taxes Act”.
SEC. 2. Removal of restriction on use of funds under Coronavirus State Fiscal Recovery Fund.
(a) Removal of restriction.—Paragraph (2) of subsection (c) of section 602 of the Social Security Act, as added by section 9901 of the American Rescue Plan Act of 2021 (Public Law 117–2), is amended to read as follows:
“(2) FURTHER RESTRICTION ON USE OF FUNDS.—No State or territory may use funds made available under this section for deposit into any pension fund.”.
(b) Conforming amendments.—Such section is further amended—
(1) in subsection (d)(2)(A), by striking “, including, in the case of a State or a territory, all modification to the State’s or territory’s tax revenue sources during the covered period”;
(2) in subsection (e), by striking “such subsection,” and all that follows through the period and inserting “such subsection.”; and
(A) by striking paragraph (1); and
(B) by redesignating paragraphs (2) through (7) as paragraphs (1) through (6), respectively.