117 HR 2002 IH: Let States Cut Taxes Act U.S. House of Representatives 2021-03-18 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I

117th CONGRESS1st Session

H. R. 2002

IN THE HOUSE OF REPRESENTATIVES

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

A BILL

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.

1.

Short title

This Act may be cited as the

Let States Cut Taxes Act

.

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(3)in subsection (g)—(A)by striking paragraph (1); and(B)by redesignating paragraphs (2) through (7) as paragraphs (1) through (6), respectively.