Does President Biden need to bailout state schools?
Jan 22, 2021
President Biden wants to increase the national debt by $170 billion to “provide relief” to state schools. Is relief needed?
Chris Edwards of the Cato Institute reports that state and local tax revenues fell by just $22 billion in the second quarter of 2020, but then recovered in the third quarter. Plus, the feds also provided $194 billion in subsidies last year. State and local government should be awash in cash already.
