80.3 F
Charlotte Amalie
Friday, July 1, 2022
HomeNewsArchivesU.S. SENATE OKS FISCAL AID FOR STATES, TERRITORIES

U.S. SENATE OKS FISCAL AID FOR STATES, TERRITORIES

May 15, 2003 – The U.S. Senate passed an amendment to the president's tax-cut bill on Thursday which would provide $20 billion in temporary assistance to states and territories — half of it an aid package for the federal share of Medicaid and the other half for general fiscal relief over the next 18 months.
The Democratic-sponsored amendment, according to a release from Delegate Donna M. Christensen, would provide an additional 5.9 percent in Medicaid funds to the territories for this fiscal year "over and above our cap, or approximately an additional $354,000."
She said the other $10 billion for general assistance would provide "at least $6 million for each of the territories."
"While only a temporary boost, any funding that would aid struggling local governments such as our own is welcome," Christensen said.
Many of the 50 states, like the Virgin Islands, are experiencing serious reductions in revenues due to a prolonged recession, the release noted.
Under the terms of the amendment, Christensen said, the territory could use its $6 million in general assistance for "education or job training, transportation or other infrastructure, law enforcement or public safety or other essential government services."
The Senate bill now must be reconciled with a tax-cut package passed last week by the House, where Republicans rejected Bush's proposal to eliminate dividend taxes — something the Senate version includes.

Publisher's note : Like the St. John Source now? Find out how you can love us twice as much — and show your support for the islands' free and independent news voice … click here.

Print Friendly, PDF & Email
Keeping our community informed is our top priority.
If you have a news tip to share, please call or text us at 340-228-8784.




Support local + independent journalism in the U.S. Virgin Islands

Unlike many news organizations, we haven't put up a paywall – we want to keep our journalism as accessible as we can. Our independent journalism costs time, money and hard work to keep you informed, but we do it because we believe that it matters. We know that informed communities are empowered ones. If you appreciate our reporting and want to help make our future more secure, please consider donating.

STAY CONNECTED

20,771FansLike
4,757FollowersFollow

FROM FACEBOOK

Comments Box SVG iconsUsed for the like, share, comment, and reaction icons
Load more
May 15, 2003 - The U.S. Senate passed an amendment to the president's tax-cut bill on Thursday which would provide $20 billion in temporary assistance to states and territories -- half of it an aid package for the federal share of Medicaid and the other half for general fiscal relief over the next 18 months.
The Democratic-sponsored amendment, according to a release from Delegate Donna M. Christensen, would provide an additional 5.9 percent in Medicaid funds to the territories for this fiscal year "over and above our cap, or approximately an additional $354,000."
She said the other $10 billion for general assistance would provide "at least $6 million for each of the territories."
"While only a temporary boost, any funding that would aid struggling local governments such as our own is welcome," Christensen said.
Many of the 50 states, like the Virgin Islands, are experiencing serious reductions in revenues due to a prolonged recession, the release noted.
Under the terms of the amendment, Christensen said, the territory could use its $6 million in general assistance for "education or job training, transportation or other infrastructure, law enforcement or public safety or other essential government services."
The Senate bill now must be reconciled with a tax-cut package passed last week by the House, where Republicans rejected Bush's proposal to eliminate dividend taxes -- something the Senate version includes.

Publisher's note : Like the St. John Source now? Find out how you can love us twice as much -- and show your support for the islands' free and independent news voice ... click here.