SB 27-10: Federal Budget FY 2021 (Passed)

[Southern Senator North Carolina Yankee]

1) Do we want to change any tax rates? The current version repeals the temporary tax cuts passed by Pericles. I could bring those back; or we could even go for tax hikes.

2) Do we want to fix the issue with the double wealth tax? We passed a wealth tax this 2020, but we already had one, so now we have 2 wealth taxes

3) Do we want to defund the SEDDA Act? That bill essencially doubled NASA's funding, for the purpose of having Humans on mars and what not. It is by far the biggest spending increase outside the Covid stuff.

1. When was the original sunset for those "temporary tax cuts"?

2. When was the original wealth tax passed and what is the differences between the two in terms of rates, applicability, exceptions etc?

3. Perhaps maybe delaying SEDDA funding until after the Covid situation and related spending has tapered off?

[Southern Senator North Carolina Yankee]

1) Do we want to change any tax rates? The current version repeals the temporary tax cuts passed by Pericles. I could bring those back; or we could even go for tax hikes.

2) Do we want to fix the issue with the double wealth tax? We passed a wealth tax this 2020, but we already had one, so now we have 2 wealth taxes

3) Do we want to defund the SEDDA Act? That bill essencially doubled NASA's funding, for the purpose of having Humans on mars and what not. It is by far the biggest spending increase outside the Covid stuff.

1. When was the original sunset for those "temporary tax cuts"?

2. When was the original wealth tax passed and what is the differences between the two in terms of rates, applicability, exceptions etc?

3. Perhaps maybe delaying SEDDA funding until after the Covid situation and related spending has tapered off?

1. Apparently the income tax reduction was meant to be permanent. However, the corporate tax cut was meant to be only applicable in 2021.

2. A quick search has not revealed when or where the original wealth tax passed, nor the differences between the 2. It was present in the 2020 budget, but not the 2019 one.

3. That could be a decent way to solve this, but I do wonder whether we'll end up forgetting in 2021 or not when we do the 2022 budget

3. Perhaps a zeroed out budget line being present would help prevent the forgetting of such.

Also if we proceed as such with the updating as we go idea, we can already have it in the budget for next time, reducing the likelihood of it being forgotten.

[Southern Senator North Carolina Yankee]

The amendment appears to be adopted.

[Southern Senator North Carolina Yankee]

2. A quick search has not revealed when or where the original wealth tax passed, nor the differences between the 2. It was present in the 2020 budget, but not the 2019 one.

So it must have happened sometime in late 2018 or 2019 correct?

[Southern Senator North Carolina Yankee]

2. A quick search has not revealed when or where the original wealth tax passed, nor the differences between the 2. It was present in the 2020 budget, but not the 2019 one.

So it must have happened sometime in late 2018 or 2019 correct?

Yeah that should be about right

Who wrote the 2020 budget? Devout Centrist?

[Southern Senator North Carolina Yankee]

Tack? Your thoughts on Ted's idea?

[Southern Senator North Carolina Yankee]

Anyone else have a suggestion here?

[Southern Senator North Carolina Yankee]

Anyone else have a suggestion here?

[Southern Senator North Carolina Yankee]

More senators were asked to comment.

I do ask this a lot fwiw

[Southern Senator North Carolina Yankee]

The amendment ted called objections to is adopted.

[Southern Senator North Carolina Yankee]

Next steps here?

[Southern Senator North Carolina Yankee]

So, is this all? If so, then we should probably proceed to a final vote.

Also, the CRs we've passed expire on the 31st of January; should we introduce a new one so the House gets time to debate the budget or should we just expect the House to rush through it?

Going to treat this as a motion for final vote and call 24 hours for objections.

[Southern Senator North Carolina Yankee]

AYE