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State-by-State Analysis Shows $3.7 Billion of Existing Liquidity in Mississippi

May 21, 2020 by AFP

HATTIESBURG, MS – Americans for Prosperity (AFP) today released a report detailing the nearly $2 trillion in federal assistance already available to state and local governments, including more than $1.1 trillion that has been provided in the wake of the outbreak of COVID-19.

The analysis, conducted by AFP Policy Manager Matthew Dickerson and AFP Senior Fellow Alison Winters, also calculates the flexible federal assistance available to each state. The report suggests that this unprecedented amount of federal funding combined with responsible decisions at the state and local level should allow state and local governments to maintain necessary services without expediting a massive bailout bill from Congress.

Click Here to Read: Federal Budget Assistance for State and Local Governments

AFP-MS State Director Steven Utroska issued the following statement:

“With Mississippi boasting nearly $3.7 billion in liquidity, it is clear that bailouts are unnecessary. Senators Cindy Hyde-Smith and Roger Wicker must reject the call for massive federal bailouts that will benefit politicians and special interests more than the average Mississippian.

“Our lawmakers need to prioritize spending reductions and other reforms to address budget challenges. The Magnolia State doesn’t need another bailout, we need policies that will help us recover stronger than before.”

Summary of Key Findings:

  • The federal government will be providing at least $1.9 trillion in total assistance to state and local governments this year. That includes $790.7 billion in grants to state and local governments in pre-COVID funding, plus $1.1 trillion in additional support for state and local governments in response to COVID-19.
  • Instead of pushing for more funding, state and local policymakers should illustrate how they are utilizing the currently available federal funds to make the responsible decisions that will prioritize necessary services for their residents.
  • State and local policy makers should also enact reforms and spending reductions to address state budget challenges, many of which are the result of fiscal mismanagement prior to the COVID-19 crisis.

Background:

A few weeks ago, AFP issued a statement launching its efforts against federal bailouts for state and local governments: AFP-MS Urges Sen. Wicker to Lead in Washington & Reject Harmful State Bailouts

AFP-MS State Director Steven Utroska’s op-ed appeared in Y’all Politics last week: Protect taxpayers by saying no to bailouts for irresponsible politicians