AG Derek Schmidt asks feds to respect Kansas’ ability to set tax policy

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TOPEKA – (March 17, 2021) – U.S. Treasury Secretary Janet Yellen must take immediate action to ensure a sweeping provision of the American Rescue Plan does not improperly intrude on states' authority to set their own tax policy, Kansas Attorney General Derek Schmidt said today.Schmidt joined 20 other state attorneys general in a letter to Yellen regarding provisions of the recent federal stimulus act that forbid states from using COVID-19 relief funds to “directly or indirectly offset a reduction in … net tax revenues” resulting from state laws or regulations that reduce tax collections, whether by cutting rates or by giving rebates, deductions, credits, “or otherwise.” Schmidt warns that unless interpreted narrowly this language could deny Kansas...

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AG Derek Schmidt asks feds to respect Kansas’ ability to set tax policy

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