N303 - Elimination of the Sales Tax Act (withdrawn)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.

[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?

[Maxwell]

Offering up an amendment.

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

[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.

[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.

[Maxwell]

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