Thursday, December 17, 2020

Pelosi and Schumer were clueless about revenue sharing

McConnell getting much of what he wants in emerging relief deal 
State and local funding was a top priority of Speaker Nancy Pelosi (D-Calif.) and Senate Minority Leader Charles Schumer (D-N.Y.).

They tilted the sharing all the way to the House and the Senate rejected.  Now California get no liquidity out of the deal. Whatever economic advisers they use certainly misinformed them.

Who really knew what revenue sharing was about?  I counted about the economists that I follow, at least two knew what it was about.  I am pretty sure none of the advisers for Pelosi had a clue. I think revenue sharing is now gonr, Newsom fouled this up three times by my count, and he ends up with 4 billion when he could have gotten 13 billion. But it was 18 billion or walk, the Senate said,  'OK, take the walk'.

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