Budget & Tax , Economy , Culture and the Family
Curtis Shelton | April 16, 2020
OCPA calls for CARES Act flexibility
OCPA president Jonathan Small, along with the leaders of several other think tanks from around the country, has signed a letter to federal legislative leaders calling for flexibility in the use of the CARES Act relief dollars.
The $150 billion relief fund provides $1.25 billion to each state, with the possibility for more based on state population. These funds are currently earmarked for direct spending on efforts to combat COVID-19. The amount provided is more than enough for what Oklahoma needs to address the direct costs associated with the virus.
This surplus of money, as is currently dedicated, will do nothing to address the budget shortfall faced by the state. It would be better for the state to have more control over how this money is appropriated. Instead of using all $1.25 billion on direct COVID-19 spending, Oklahoma, and many other states, would greatly benefit from the ability to offset lost tax revenue or provide tax relief as state economies begin to come online.
I encourage you to read the letter here.
Policy Research Fellow
Curtis Shelton currently serves as a policy research fellow for OCPA with a focus on fiscal policy. Curtis graduated Oklahoma State University in 2016 with a Bachelors of Arts in Finance. Previously, he served as a summer intern at OCPA and spent time as a staff accountant for Sutherland Global Services.