N303 - Elimination of the Sales Tax Act (withdrawn)

[Maxwell]

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Sponsor: Maxwell

72 hrs for Debate

I support this measure because we need both demand and supply side incentives in order to grow the Northern economy. Eliminating the Sales Tax will allow more of the working poor to take him more of their pay, but also be able to spend it within the local economy, growing the North.

[JGibson]

I'm in favor of this bill. Count me in.

[Pheurton Skeurto]

Yeah it seems we're going to be in agreement about a lot of legislation this term.

[Maxwell]

For this are we waiting on the income tax to come in to determine if there even should be an allotted alternative funding mechanism?

[Pheurton Skeurto]

For this are we waiting on the income tax to come in to determine if there even should be an allotted alternative funding mechanism?

We still don't even know whose income tax brackets we'll be using. The Governor has proposed one, and I have proposed one.

[Maxwell]

Offering up an amendment.

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I'm deciding that we'll do an alternative revenue source at another time.

[Wells]

I'd be wary of getting rid of 38 billion dollars of revenue without any idea of what to replace it with. I think an income tax increase would be able to cover it, though how much the increase would have to be isn't yet known.

[Maxwell]

I'd be wary of getting rid of 38 billion dollars of revenue without any idea of what to replace it with. I think an income tax increase would be able to cover it, though how much the increase would have to be isn't yet known.

I messaged Clyde for any updates, so we'll see.

[Unconditional Surrender Truman]

As I recall, we managed to eliminate the sales tax in the Old Mideast without a significant increase of the income tax, though I agree with the Governor that we ought to see how this will effect the budget before plowing ahead with a $38 billion tax cut.

[Maxwell]

I withdraw my amendment for now.

I think this is pretty much in limbo.

[Maxwell]

I do have one piece of possible government revenue to replace it - Enacting a financial transaction tax. I'm wondering though how that would work in a region like ours.

[Bleach Blonde Bad Built Butch Bodies for Biden]

I really think you would be better off just withdrawing this bill and discussing any potential removal of the sales tax in the budget thread.  The revenue totals under the budget currently under consideration haven't been fully estimated yet AFAIK, and simply eliminating a tax (which technically doesn't exist because no budget is in place yet) without knowing how that might affect other taxes and expenditures would be unwise.

[Maxwell]

I withdraw this bill for now and will re-introduce it when more information comes out about our budget.