[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. 730 Introduced in Senate (IS)]

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117th CONGRESS
  1st Session
                                 S. 730

To amend title VI of the Social Security Act to remove the prohibition 
        on States and territories against lowering their taxes.


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                   IN THE SENATE OF THE UNITED STATES

                             March 11, 2021

   Mr. Braun introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

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                                 A BILL


 
To amend title VI of the Social Security Act to remove the prohibition 
        on States and territories against lowering their taxes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Let States Cut Taxes Act''.

SEC. 2. REMOVAL OF RESTRICTION OF USE OF CORONAVIRUS STATE FISCAL 
              RECOVERY FUNDS.

    (a) In General.--Paragraph (2) of section 602(c) of the Social 
Security Act, as added by section 9901 of the American Rescue Plan Act 
of 2021, 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.--Section 602 of such Act is further 
amended--
            (1) in subsection (d)(2)(A), by striking ``, including, in 
        the case of a State or a territory, all modifications 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.
    (c) Effective Date.--The amendments made by this section shall take 
effect as if included in the enactment of the American Rescue Plan Act 
of 2021.
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