Republican senator: Yes, Congress should send money to state and local governments
By Bill Cassidy
May 1, 2020 at 12:01 p.m. EDT
Bill Cassidy, a Republican, represents Louisiana in the U.S. Senate.
As Congress drafts the next round of covid-19 spending, lawmakers are debating whether to give states money. We should. Without such funding, cities and municipalities will be forced to lay off workers and may therefore be unable to provide basic services to keep small- and medium-size businesses running.
Federal health officials made a wise decision to get the word out about social distancing and not gathering in crowds. People heeded this warning. The U.S. curve has flattened, and lives have been saved. But the collateral damage of closing down businesses has been lost tax revenue for states and cities.
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Congress and the American people made an enormous investment in getting our businesses back to work in the last stimulus package. In the next few weeks and months, states and municipalities will have to deal with revenue loss. Bank of America published a report that found state bankruptcy would crater the $3.8 trillion municipal bond market. Many states, including Louisiana, have to balance their budget every year. Some states are already acknowledging the shortfall and the pain it will cause. They all will soon.
If we do not provide stability for states, we risk wasting all the money spent to save small businesses. These small business need basic government services. Who will eat in a restaurant if garbage and rats are out front because a city has laid off sanitation workers?
more:
http://www.washingtonpost.com/opinions/2020/05/01/republican-senator-yes-congress-should-send-money-state-local-governments/#comments-wrapper
DO SOMETHING!
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