Why have Republicans not only opposed allocating sufficient aid to states but been willing to undermine small businesses in the name of blocking such aid? EricLevitz writes
Life’s a Mitch. Photo: 2020 Getty Images The U.S. federal government can print its own currency, which also happens to be the world’s reserve currency. This is a handy setup for Uncle Sam in ordinary times. But it’s especially convenient in moments of economic crisis.
All of this means that, unlike less prosperous and powerful countries, the United States shouldn’t have any problem sustaining basic government services for the duration of this crisis.1) America has chosen to delegate a wide array of its core government functions to the states, none of which can print their own currencies or issue internationally coveted bonds.
Beyond the fact that Republican-leaning states are hurting for aid about as much as blue ones are, the president’s party has a profound political interest in mitigating the economic impact of an election-year recession. This is ostensibly why Republicans promoted mailing checks directly to low-income and middle-class households: to prop up consumer demand and prevent economic decline from feeding on itself.
Although a highly defensible policy on the merits, Republicans’ decision to place a cap on the state and local tax deduction in 2017 was likely motivated in part by a desire to constrain blue states’ redistributive policies: It’s less politically difficult to fund social programs by raising taxes on the rich when your rich constituents know they can put those new taxes on Uncle Sam’s tab.
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