The Tax Cut and Jobs Act of 2017 appears to be delivering an unexpected benefit to state governments: It is lowering their cost of their borrowing.

The Washington Times has an interesting op-ed up about Justice Kagan’s view of money. Here is a snippet: Justice Kagan’s dissent gave the game away in its first sentence. The tuition tax credit, she wrote, is “diverted tax revenue.” Later, she elaborated, “Both deplete funds in the government’s coffers by transferring money to select...
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