MA: Mideast Budget 2012 (Statute)

[Queen Mum Inks.LWC]

Voting is now open on the following amendment.  Members will vote AYE, NAY, or ABSTAIN.  This will be a 24-hour vote.

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[Queen Mum Inks.LWC]

AYE

[Queen Mum Inks.LWC]

Voting is now closed.  The AYEs are 4, and the NAYs are 1.  The AYEs have it, and the amendment is adopted.

[Queen Mum Inks.LWC]

Yeah, I can try to get that done tonight after class.

[Queen Mum Inks.LWC]

Sorry for the delay - I've had a big paper due this week that's finally done.  I'll have this updated by late tonight.  In the mean time, go ahead and introduce your amendments.

[Queen Mum Inks.LWC]

I'm not seeing any information on the sales tax analysis, otherwise, I believe we are now up to date.

[Queen Mum Inks.LWC]

Here's the sales tax increase:

5.7% sales tax   $59.9 billion
6.0% sales tax   $62.9 billion

[Queen Mum Inks.LWC]

3B has been added to Ad Valorum taxes.

[Queen Mum Inks.LWC]

CAN we just "hold it" as a surplus?  Is that allowed?

[Queen Mum Inks.LWC]

We currently have $3.9 billion free to spend from the 2010 Stimulus Act - when I was requesting funds way back when, I asked for a small portion of the money delegated to us be used at the Assembly's discretion. I'm trying to figure out if we could apply some to here, either through tax breaks or increased credits, or if we should hold it. Thoughts?

I am very skeptical of passing any new tax breaks while the current regional income and corporate tax rates for the upper income brackets are so low.  I won't rule it out without hearing what you had in mind, but my gut feeling is that we would be better off holding onto it than using it to give tax breaks.  I would support using that money to help improve our region's infrastructure, *maybe * developing a high-speed rail system (I need to investigate this a bit before taking a position), improving the region's public schools, investing in green energy research, etc.  There is a lot of good that we can do with this money and that is what we should be focusing on.

Once again, when you factor in the federal rates, our tax rates are much higher than RL.

We can hold it at a surplus, but come on Inks, we have to do something nice for The People. Just no huge tax cut that'll put us back in the whole...paging 2001...

Why was this addressed to me?

[Queen Mum Inks.LWC]

The first sentence was responding to Mr. X's claim that our tax rates are too low. The second part was in response to you asking if we can just "hold on to" the surplus.

1. I forgot I had asked a question.
2. I wasn't advocating that we shouldn't do anything with it; I was merely questioning if that was even legal.

[Queen Mum Inks.LWC]

Seeing no further debate, I'm bringing this to a final vote.  The version on page 1 is up to date.  Members will vote AYE, NAY, or ABSTAIN.  This will be a 48-hour vote.

[Queen Mum Inks.LWC]

AYE

[Queen Mum Inks.LWC]

Voting is now closed.  The AYEs are 4, and the NAYs are 0, with 1 not voting.  The AYEs have it, and the bill has passed.  The bill is now passed onto the Governor for his signature or veto.