The Patriot Post® · Paul's Detroit 'Bailout'

Sen. Rand Paul (R-KY) offered a bailout for bankrupt Detroit, but it’s not what you might think. Paul’s bill, introduced Monday, would enable Detroit to keep its own money. He explained, “Economic freedom zones will, over a 10-year period, if my bill were to pass, leave over $1.3 billion in Detroit. So for those who say, ‘Oh, it won’t work, it won’t be enough money,’ we’ve calculated it: $1.3 billion stimulus, not from Houston, not from Atlanta, from you. It’s your money. We’re not going to take it to Washington, we’ll leave it with you. How could anybody be opposed to this?” Paul’s bill also applies to Houston or Atlanta or any city with an unemployment rate 1.5 times the national average – it is not specifically for Detroit. The gist is that tax cuts are an economic incentive and that lowering rates will generate growth and address the problems besieging cities like Detroit. Which is why it’ll never pass the Democrat Senate.