Dependent Child and Income Tax Credit (Law'd)

[minionofmidas]

Amendment:
That the following be added to section 4:
"Persons benefiting under this section, shall be limited in their entitlements such that their total annual household income may not be exceed $35,000."

The amendment passes.

Final vote count:

Aye 7 (Lewis, Jas, Bacon, Sensei, Al, Torie, Culture)
Nay 0
did not vote 3 (Meeker, Verily, Dwtl)

[minionofmidas]

Next time I'm on, which probably is tomorrow, we'll vote on this amendment. Meanwhile

"Persons benefiting under this section, shall be limited in their entitlements such that their total annual household income may not be exceed $35,000."

And if this passes, I'll offer a friendly amendment to correct the spelling next, and add a clarifying "yearly".

"Persons benefiting under this section, shall be limited in their entitlements in such a way that their total annual household income does not exceed $35,000."

offered as friendly. (Would obviously be irrelevant and/or withdrawn if we pass Torie's amendment). If Torie's amendment fails, I might have yet another amendment after that, to create a phaseout here. And then after that, we might even move on to a final vote, possibly before the session ends.

[minionofmidas]

Next time I'm on, which probably is tomorrow, we'll vote on this amendment. Meanwhile

"Persons benefiting under this section, shall be limited in their entitlements such that their total annual household income may not be exceed $35,000."

And if this passes, I'll offer a friendly amendment to correct the spelling next, and add a clarifying "yearly".

"Persons benefiting under this section, shall be limited in their entitlements in such a way that their total annual household income does not exceed $35,000."

offered as friendly. (Would obviously be irrelevant and/or withdrawn if we pass Torie's amendment). If Torie's amendment fails, I might have yet another amendment after that, to create a phaseout here. And then after that, we might even move on to a final vote, possibly before the session ends.

Do I  have your vote on my amendment, Lewis.

I hadn't decided that yet.

[minionofmidas]

I think I want the numbers to be as Al proposed them, except with some sort of fadeout involved. Your *language* is good.

[minionofmidas]

I made the child tax credit more generous, and the fadeout starts before 35K but ends after it. If you start it at 35K, the fade out will go on until 63K.  If you increase the fade out at a rate higher than 25%, the effective marginal tax rate goes up more, and that is bad. We want to encourage folks to work.

Okay, makes sense.

Even if it didn't, it would be high time to open the vote on this amendment by now.

The vote is on the amendment. Please vote aye, nay or abstain

I move to amend the pending Welfare Reform Act bill so that it reads in its entirety as follows:

Dependent Child and Income Tax Credit Act

1. The Modified Welfare Reform Act (F.L. 12-12) and the Welfare Reform Act (F.L. 4-9) are both hereby repealed.

2. All individuals who on their tax return filed for the year append  a statement signed by the applicable unemployment office or school in question, which state that the filer, or filers in the case of joint returns,  were during the tax year in question,   unemployed and actively seeking employment or in school full time, and achieved passing grades in the courses taken if in school, shall receive a tax credit of $134 per week while unemployed or in school during such period for each such filer. If the adjusted gross income on such return exceeds $30,000 for an individual, or $50,000 for a joint return, the amount of such tax credit shall be reduced by an amount equal to 25% of the amount by which such adjusted gross income so exceeds such amount.

3. All households in Atlasia with dependent children as of the end of the tax year in question, shall be entitled to claim a dependent child income tax credit of $1,500 for each such dependent child.

Aye.

[minionofmidas]

And (obviously) if this passes I will withdraw my so far unaccepted friendly amendment.

[minionofmidas]

Vote count:

Aye 4 (Lewis, Al, Torie, Jas)
yet to vote 6 (everybody else)

[minionofmidas]

Vote times out on the 2nd, people.

[minionofmidas]

This amendment has passed.

[minionofmidas]

Dependent Child and Income Tax Credit Act[/b]

1. The Modified Welfare Reform Act (F.L. 12-12) and the Welfare Reform Act (F.L. 4-9) are both hereby repealed.

2. All individuals who on their tax return filed for the year append  a statement signed by the applicable unemployment office or school in question, which state that the filer, or filers in the case of joint returns,  were during the tax year in question,   unemployed and actively seeking employment or in school full time, and achieved passing grades in the courses taken if in school, shall receive a tax credit of $134 per week while unemployed or in school during such period for each such filer. If the adjusted gross income on such return exceeds $30,000 for an individual, or $50,000 for a joint return, the amount of such tax credit shall be reduced by an amount equal to 25% of the amount by which such adjusted gross income so exceeds such amount.

3. All households in Atlasia with dependent children as of the end of the tax year in question, shall be entitled to claim a dependent child income tax credit of $1,500 for each such dependent child.

Moving to a final vote.

Please vote aye, nay or abstain.

Aye.

[minionofmidas]

With five ayes and one abstention, this bill has enough votes to pass. The vote being unanimous, there is no 24 hour vote changing period. This bill is the first bill to be presented to our new President for his veto or signature.

Vote count:

Aye 5 (Lewis, Jas, Torie, Al, Culture)
Abstain (voted) 1 (Dwtl)
Abstain (did not vote) 4 (Verily/Andrew, Bacon/PiT, Sensei, Meeker/Happy)