HB 26-11: Middle Class Tax Break and Business Assistance Act (Passed)

[Joseph Cao]

An Act
Middle class tax break and business assistance act of 2020
Be it enacted by the Senate and House of Representatives of the Republic of Atlasia in Congress assembled,

Section I. Title

i. The long title of this bill shall be the "Middle Class Tax Break and Business Assistance Act of 2020"

Section II. Who's included?
i. All people making under $100,000 per year or
ii. Small businesses making equal or less than $750,000 per year

Section III. Tax cut
i. People making equal to less then $100,000 per year shall see an 3% reduction in income  taxes starting in 2021 onwards.
   ia. 3% reduction for each of the tax brackets that pay income taxes.
        What will happen:
        0-13K:    7% to 4%
        13K-50k:    12% to 9%
        50K-100K:    23% to 20%
ii. Small businesses with a net income equaling or less than $750,000 shall see an reduction in business related taxes of 2% from 2021 forward.

Section III. Federal Small Business Start-up Loans and Assistance Enhancement
i. $10,000,000,000 shall be added to the 2021-2022 federal loans and assistance budget to rebuild from the pandemic for small businesses that make a profit of less then or equal to $5,000,000/year.
   ia. The federal government goal is to save our businesses and to help new ones as we emerge from the deep recession.

Sponsor: Jessica
House Designation: HB 26-11

72 hours to debate.

[Rep Jessica]

Mr.Speaker

Today our people pay too much in taxes and struggle constantly throughout life. The struggle under the heavy taxation is a choice of housing, a choice of food and a choice of medicine. Friends, the people that struggle to get by after a 40 hour/week job aren't the people we should be drawing our governments revenue off of as we should be focused on the people that cheat our system first and foremost. This bill lowers their taxes giving them slightly more money to live off of, while evening the playing field for small businesses that they'll create against the struggles of the big giant international corporations that seeks to under cut them daily. And for that I ask my friends to vote yes for this bill.

I yield.

[Rep Jessica]

Lets lower the taxes for our lower and middle class citizens and let them keep MORE of the money that they've earned. More for food, more for medicine and more to be able to start up small businesses that will help grow the economy of our country.

[Joseph Cao]

Does anyone have any questions on this?

[Rep Jessica]

Mr.Speaker

I ask for a final vote. Lets lower taxes for our lower and middle class!

I yield

[Joseph Cao]

Representatives have 24 hours to object to Jessica's motion.

[Joseph Cao]

With no objections, a final vote is now open on this bill.

Representatives have 72 hours to vote. Please vote Aye, Nay, or Abstain.

[Left Wing]

Nay

[Rep Jessica]

Aye

[Senator-elect Spark]

Aye

[SevenEleven]

Nay.

[Gracile]

Nay

[P. Clodius Pulcher did nothing wrong]

Abstain

[Tamika Jackson]

Aye

[Joseph Cao]

Aye FTR.

[Joseph Cao]

So owing to my manifest idiocy in waiting until the very last minute to vote and then falling victim to this blasted computer's tendency to freeze up, we are tied.

The vote has closed, 3-3-1-2 (I voted too late).

The VP shall break the tie.

[Dr. MB]

Aye

[Joseph Cao]

An Act
Middle class tax break and business assistance act of 2020
Be it enacted by the Senate and House of Representatives of the Republic of Atlasia in Congress assembled,

Section I. Title

i. The long title of this bill shall be the "Middle Class Tax Break and Business Assistance Act of 2020"

Section II. Who's included?
i. All people making under $100,000 per year or
ii. Small businesses making equal or less than $750,000 per year

Section III. Tax cut
i. People making equal to less then $100,000 per year shall see an 3% reduction in income  taxes starting in 2021 onwards.
   ia. 3% reduction for each of the tax brackets that pay income taxes.
        What will happen:
        0-13K:    7% to 4%
        13K-50k:    12% to 9%
        50K-100K:    23% to 20%
ii. Small businesses with a net income equaling or less than $750,000 shall see an reduction in business related taxes of 2% from 2021 forward.

Section III. Federal Small Business Start-up Loans and Assistance Enhancement
i. $10,000,000,000 shall be added to the 2021-2022 federal loans and assistance budget to rebuild from the pandemic for small businesses that make a profit of less then or equal to $5,000,000/year.
   ia. The federal government goal is to save our businesses and to help new ones as we emerge from the deep recession.

People’s House of Representatives
Passed 4-3-1-2 in the House of Representatives