FT 16.18 - Budget FY 2021

[𝕭𝖆𝖕𝖙𝖎𝖘𝖙𝖆 𝕸𝖎𝖓𝖔𝖑𝖆]

Aye

[Unconditional Surrender Truman]

Aye!

[YE]

Aye.

[Unconditional Surrender Truman]

Huzzah! I hope the speaker will forgive me if I jump the gun a little and sign this right away.

COMMONWEALTH BUDGET
for the fiscal year of 2021

I. REVENUES
☞ Income Tax: $141,458,440,106
$0K – $125K (0%): $0
$125 – $200K (5%): $4,544,572,163
$200K – $1M (15%): $51,494,832,936
$1M – $10M (30%): $45,459,789,567
$10M – $100M (45%): $30,242,234,007
$100M+ (60%): $9,717,011,433

☞ Corporate Taxes: $222,721,286,871
$0 – 100K (0%): $0
$100K – 1M (20%): $1,052,287,645
$1M – 10M (40%): $7,087,226,512
$10M+ (60%): $214,581,772,714

☞ Excise Taxes: $34,984,493,310
Alcohol (15%): $13,087,791,871
Gas & Diesel ($0.30/gallon): $14,653,207,484
Tobacco (40%): $7,243,493,957

☞ Misc. Taxes and Penalties: $249,838,957,800
Fremont Carbon Taxation Act: $31,011,738,620
Green Vehicle Promotion Act § 2(ii): $3,602,574,479
Royalties Act:
Coal: $2,877,687,513
Gas: $1,500,722,750
Oil: $11,355,570,000
Gaming Tax: $5,100,495,700
Estate Tax (50%): $5,852,884,365
Drug Tax: $3,446,083,796
Lodging Facility Sales and Use Tax: $5,091,240,579.71
Property Tax: $180,000,000,000

☞ FY2020 Surplus: 18,159,573,897

II. EXPENDITURES
☞ Tax Credits: $1,660,474,443
Green Vehicle Promotion Act §2(i): $1,236,935,443
Teacher's Tax Credit: $423,539,000

☞ Mandatory Spending: $243,318,970,000 (List A)

☞ Discretionary Spending: $395,932,000,000
Education: $195,282,000,000
Health and Human Services: $130,676,000,000
Justice: $16,921,000,000
Home Office: $53,053,000,000

TOTAL REVENUES: $667,162,752,000
TOTAL EXPENDITURES: $640,911,444,400
TOTAL SURPLUS: $26,251,307,600

On a personal note, I'd like to thank our present batch of MFPs as well as Representative Oregon Blue Dog and Senator Scott for their help, god faith, and patience throughout this long process. Despite the unresponsiveness of the former comptroller general and the many obligations we all have in our lives outside politics, we were able to pass a balanced budget on time without raising taxes on the working and middle classes and without sacrificing funding for our essential services here in Frémont. It is a pleasure serving alongside all of you, and I am looking forward to a prosperous and active 2021 after the end of the holiday season!

[Unconditional Surrender Truman]

Updated per the comptroller general's report.

COMMONWEALTH BUDGET
for the fiscal year of 2021

I. REVENUES
☞ Income Tax: $141,458,440,106
$0K – $125K (0%): $0
$125 – $200K (5%): $4,544,572,163
$200K – $1M (15%): $51,494,832,936
$1M – $10M (30%): $45,459,789,567
$10M – $100M (45%): $30,242,234,007
$100M+ (60%): $9,717,011,433

☞ Corporate Taxes: $222,721,286,871
$0 – 100K (0%): $0
$100K – 1M (20%): $1,052,287,645
$1M – 10M (40%): $7,087,226,512
$10M+ (60%): $214,581,772,714

☞ Excise Taxes: $34,984,493,310
Alcohol (15%): $13,087,791,871
Gas & Diesel ($0.30/gallon): $14,653,207,484
Tobacco (40%): $7,243,493,957

☞ Misc. Taxes and Penalties: $249,838,957,800
Fremont Carbon Taxation Act: $31,011,738,620
Green Vehicle Promotion Act § 2(ii): $3,602,574,479
Royalties Act:
Coal: $2,877,687,513
Gas: $1,500,722,750
Oil: $11,355,570,000
Gaming Tax: $5,100,495,700
Estate Tax (50%): $5,852,884,365
Drug Tax: $3,446,083,796
Lodging Facility Sales and Use Tax: $5,091,240,579.71
Property Tax: $180,000,000,000

☞ FY2020 Surplus: 18,159,573,897

II. EXPENDITURES
☞ Tax Credits: $1,660,474,443
Green Vehicle Promotion Act §2(i): $1,236,935,443
Teacher's Tax Credit: $423,539,000

☞ Mandatory Spending: $243,334,970,000 (List A)

☞ Discretionary Spending: $395,932,000,000
Education: $195,282,000,000
Health and Human Services: $130,676,000,000
Justice: $16,921,000,000
Home Office: $53,053,000,000

TOTAL REVENUES: $667,162,752,000
TOTAL EXPENDITURES: $640,927,444,400
TOTAL SURPLUS: $26,235,307,600

[Unconditional Surrender Truman]

Updated to reflect FT 18.03

COMMONWEALTH BUDGET
for the fiscal year of 2021

I. REVENUES
☞ Income Tax: $141,458,440,106
$0K – $125K (0%): $0
$125 – $200K (5%): $4,544,572,163
$200K – $1M (15%): $51,494,832,936
$1M – $10M (30%): $45,459,789,567
$10M – $100M (45%): $30,242,234,007
$100M+ (60%): $9,717,011,433

☞ Corporate Taxes: $222,721,286,871
$0 – 100K (0%): $0
$100K – 1M (20%): $1,052,287,645
$1M – 10M (40%): $7,087,226,512
$10M+ (60%): $214,581,772,714

☞ Excise Taxes: $34,984,493,310
Alcohol (15%): $13,087,791,871
Gas & Diesel ($0.30/gallon): $14,653,207,484
Tobacco (40%): $7,243,493,957

☞ Misc. Taxes and Penalties: $249,838,957,800
Fremont Carbon Taxation Act: $31,011,738,620
Green Vehicle Promotion Act § 2(ii): $3,602,574,479
Royalties Act:
Coal: $2,877,687,513
Gas: $1,500,722,750
Oil: $11,355,570,000
Gaming Tax: $5,100,495,700
Estate Tax (50%): $5,852,884,365
Drug Tax: $3,446,083,796
Lodging Facility Sales and Use Tax: $5,091,240,579.71
Property Tax: $180,000,000,000

☞ FY2020 Surplus: 18,159,573,897

II. EXPENDITURES
☞ Tax Credits: $1,660,474,443
Green Vehicle Promotion Act §2(i): $1,236,935,443
Teacher's Tax Credit: $423,539,000

☞ Mandatory Spending: $234,334,970,000 (List A)

☞ Discretionary Spending: $395,932,000,000
Education: $195,282,000,000
Health and Human Services: $130,676,000,000
Justice: $16,921,000,000
Home Office: $53,053,000,000

TOTAL REVENUES: $667,162,752,000
TOTAL EXPENDITURES: $631,927,444,400
TOTAL SURPLUS: $35,235,307,600