An important and novel provision in the #AmericanRescuePlan: for every dollar that a state or territorial government spends on net tax cuts in the next couple years, it will lose a dollar of federal aid. A short thread on why this is sound policy. 1/ Recessions are a terrible time for tax cuts, especially at state level. Typically the benefits go to people and to corporations who don’t need them – the wrong approach when many working families still face serious economic hardship. 2/

Federal Reserve nominee @StephenMoore helped design massive Kansas tax cuts in 2012 and 2013 and promised they'd boost the state's economy. Here's what actually happened: (1/5) During the period Kansas was following Moore's advice from 2012-17, economic output underperformed most of its neighbors and was half the national average. New business formation and job creation lagged other states'. (2/5)