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

[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?

[The world will shine with light in our nightmare]

Perhaps we should create a special rebate for poor and middle class people in Lincoln, just so they can pay their taxes.

[Former President tack50]

Perhaps we should create a special rebate for poor and middle class people in Lincoln, just so they can pay their taxes.

You mean taxes over 100% isn't a good idea?

[The world will shine with light in our nightmare]

In all seriousness, I would support some kind of tax relief for Lincoln, or at least a delay on this vote, until they can get their budget in order - which is an absolute mess right now. Their tax system is extremely regressive and they still have a large deficit, because for some reason they decided to spend $125 billion on hospitals while the feds were already funding these projects in the first stimulus. I don't want to vote for a budget that leaves Lincoln taxpayers in their current... predicament.

[S019]

The bill in question was defunded and Lincoln expects to have a large surplus once the CG scores the property tax, since it was done weirdly last time

[The world will shine with light in our nightmare]

If Lincoln doesn't need a temporary tax adjustment, I'm content with the bill as it stands.

[Former President tack50]

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?

[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.

[Mike Thick]

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.

Seeing no objections, a final vote is now open on this legislation. Senators, please vote aye, nay, or abstain.

[Southern Senator North Carolina Yankee]

AYE

[The world will shine with light in our nightmare]

Aye

[Former President tack50]

Aye

Finally!

[Blair]

Aye

[Mike Thick]

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.

Seeing no objections, a final vote is now open on this legislation. Senators, please vote aye, nay, or abstain.

Voting is now closed. By a vote of 4-0-0-2, this legislation passes.

[Mike Thick]

Should I leave the red and blue colors in for the final certification/transfer to the House?

[Former President tack50]

Should I leave the red and blue colors in for the final certification/transfer to the House?

Blue yes, it would be helpful for the House to know what is newly added for 2021.

Red was to make sure that people know that the old wealth tax is being taken out, so you can just remove it from the bill

Green similarly was to denote that that section was being added, so you can change it to black.

[Mike Thick]

Should I leave the red and blue colors in for the final certification/transfer to the House?

Blue yes, it would be helpful for the House to know what is newly added for 2021.

Red was to make sure that people know that the old wealth tax is being taken out, so you can just remove it from the bill

Green similarly was to denote that that section was being added, so you can change it to black.

Right. Thanks.

[Mike Thick]

FEDERAL BUDGET: FY2021

Section 1: Revenues

Income Taxes:  $ 1,735,038,900,000.00  ($ 1735.04 billion)                           
 by tax bracket
 0-13K      10%  $ 132,602,630,929.00
 13K-50k    15%    $ 447,780,682,763.00                   
 50K-130K   25%        $ 535,512,271,234.00               
 130K-210K  29%       $ 188,700,479,643.00                     
 210K-413K  34%       $ 220,320,135,498.00                         
 413K-441K  36%        $ 75,481,993,752.00                   
 441K+      40.6%      $ 134,640,706,551.00                     
                                           
Corporate Taxes:  $ 347,763,510,122.19  ($ 347.76 billion)
 by tax bracket                                           
 0-100K     0%        $ 0.00               
 100K-1M    15%        $ 2,678,940,033.99               
 1M-10M     21.5%    $ 5,172,280,041.70                   
 10M+       28%         $ 339,912,290,046.51                   
                                                                                         
Payroll Taxes -  $ 1,325,575,422,184.86 ($ 1,325.58 billion)
 breakdown
 OASDI: 12.4% (6.2% on employees, 6.2% on employers) - $ 912,456,391,044.15   
 RRPH: 5.0% (2.5% on employees, 2.5% on employers) - $ 367,925,964,130.71     
 FUTA: 6.0% on first $7,000 - $ 45,193,067,010.00 

Estate Tax: 45% of amount above $ 3.5 million, 50% above $ 10 million, 55% above $ 50 million
 $ 34,500,000,000.00
$16.00 Billion.... Amendment by the Responsible Estate Tax Act
Total: $50.5 Billion

New 2020 Wealth Tax
$288.00 Billion

Healthcare Taxes:
 40% Cadillac Tax -  $ 0.00 Billion 
 3.8% on Net Investment Income -  $ 12.80 Billion                             
                       
Excise Taxes/customs duties:
 Carbon Tax (2018) -  $ 16.35    Billion                           
 Gasoline Tax (2018) -  $ 50.00 Billion                               
 Tobacco and Alcohol Taxes (2018) -  $ 24.20 Billion   
 Excise taxes on health insurance providers,
 pharmaceuticals, and medical devices (2018) - $ 9.90 Billion
 Revenue Enhancement Act - $ 63,185,494,000.00
 LIFO Repeal Offset… $ 13,000,000,000.00       

Buffett Rule Act of 2019: $46.7 Billion           
                       
Other Revenue:  $ 30.209 Billion                   
                       
Additional tax credits:  $ -39.40 Billion
                       
TOTAL Revenue: $ 3973.83 Billion

Section 2: Spending

Military Spending ($504.358 Billion)               
$123.58 Billion... Military personnel               
$184.51 Billion... Operation and maintenance               
$106.01 Billion... Procurement               
$61.52 Billion ... Research, development, test and evaluation               
$8.47 Billion..... Military Construction, Family Housing and Other               
$12.148 Billion.... Atomic Energy Defense Activities               
$8.11 Billion..... Defense Related activities           
$0.00 Billion..... Fiscal Responsibility in our Military Act
$-15.25 Billion… F-35 Procurement Halt

                           
Military Retirement ($144.0811 Billion)                           
$75.48 Billion.... Income security for veterans               
$14.15 Billion.... Veterans education, training, and rehabilitation                           
$54.22 Billion.... Hospital and medical care for veterans and retired military (added in under Healthcare below)               
$0.38 Billion..... Housing and other veterans benefits and services             
$-0.1489 Billion…. VA Privatisation
                           
International affairs ($31.94 Billion)               
$18.88 Billion ... International development and humanitarian assistance               
$8.55 Billion..... International military aid               
$11.99 Billion.... Conduct of foreign affairs               
$1.30 Billion..... Foreign information and exchange activities 
$-8.79 Billion.... International Financial Programs             
               
General science, space, and technology ($185.18 Billion)               
$11.26 Billion.... National Science Foundation programs               
$4.55 Billion..... Department of Energy general science programs               
$169.37 Billion.... Space flight, research, and supporting activities
$154.00 Billion.... Space Exploration, Development, and Settlement Act
-$154.00 Billion.... Delay on the implementation of the Space Exploration, Development, and Settlement Act             
               
Non-Defense Energy Spending ($47.393 Billion)               
$3.15 Billion..... Energy supply               
$1.11 Billion..... Energy conservation and preparedness               
$0.64 Billion..... Energy information, preparedness, & regulation 
$10.00 Billion.... Energy Rebate and Subsidy Act   
$32.50 Billion.... Gas Tax Act     
$-0.007 Billion…. Eliminated Ethanol Blending Rules
           
Natural resources and environment ($34.58 Billion)               
$4.89 Billion..... Water resources               
$11.54 Billion.... Conservation and land management         
$4.42 Billion..... Recreational & Park resources               
$7.18 Billion..... Pollution control and abatement                               
$6.55 Billion..... Other natural resources   
               
Agriculture ($19.532 Billion)               
$16.01 Billion.... Farm income stabilization & crop insurance               
$4.30 Billion..... Agricultural research and services
$0.03 Billion..... No More Going Hungry in Atlasia Act
$-0.8 Billion…. Eliminated marketing programs
$-0.008 Billion…. Eliminated Catfish Inspection Office
               
Commerce and Housing Loan Programs ($0.79 Billion)               
$-22.33 Billion... Federal Housing Loan Programs               
$2.69 Billion..... Postal service               
$2.50 Billion..... Deposit insurance               
$10.20 Billion.... Universal service fund               
$7.70 Billion..... Other advancement of commerce
$-0.17 Billion…. Eliminated Capital Construction Grants   
$0.20 Billion… Supporting Atlasian Entrepreneurs Act         
               
Transportation ($92.3914 Billion)               
$67.40 Billion.... Ground Transportation             
$16.20 Billion.... Air Transportation               
$8.4015 Billion..... Water transportation               
$0.38 Billion..... Other transportation     
         
               
Community and regional development ($33.425 Billion)               
$3.78 Billion..... Community development               
$2.19 Billion..... Area and regional development               
$4.02 Billion..... Disaster relief and insurance               
$2.23 Billion..... Homeless Shelter Emergency Housing               
$4.32 Billion..... Small Business Association
$0.77 Billion..... Flint Reinvestment Act
$0.08 Billion..... Refugee act           
$-11.025 Billion…. We Should Help Workers Act
$2.00 Billion…. Buy-Atlasian Contracting Rules
$10.00 Billion…. Appalachia Reinvestment Act
$15.00 Billion…. Reservation Reinvestment Act
               
Education ($73.7625 Billion)               
$39.03 Billion.... Elementary, Secondary & Vocational education               
$31.475 Billion.... Higher education               
$3.26 Billion..... Research and general education             
$0.00 Billion..... Orlando Act
$-0.0125 Billion…. Cap on certain student loans
               
Training, labor and unemployment ($19.536 Billion)               
$7.58 Billion..... Training and employment               
$1.77 Billion..... Labor law, statistics, and other administration'
$9.2 Billion...... Public Service Act         
$-0.014 Billion…. Eliminated Employee Drug Tests
$1.00 Billion.... Agency of Cooperative Enterprises (see Act to encourage the growth of worker owned enterprises)
               
Atlasian Healthcare ($1261.14 Billion)               
$423.77 Billion... Senior Healthcare
$44.31 Billion.... Veteran Healthcare
$12.90 Billion.... Federal employees' and retired employees' health benefits 
$425.42 Billion... Medical Services
$338.85 Billion... Sliding Scale Subsidies
$15.89 Billion.... Healthcare Subsidy Office (HSO) and AtlasCare Office (ACO) Administration

Non-ANH Health Spending ($67.67 Billion)               
$24.25 Billion.... Disease control, public health and bioterrorism               
$28.48 Billion.... Health research and training               
$4.24 Billion..... Consumer and occupational health and safety             
$10.00 Billion…. Opioid Epidemic Commission
$0.3 Billion.... Comprehensive Opioid Response Act
$0.40 Billion.... Women's Health Protection Act 
               
Civilian Retirement (Social Security excluded) ($138.16 Billion)               
$8.23 Billion..... Civilian retirement and disability insurance               
$129.93 Billion... Federal employee retirement and disability               
 
Social Security ($903.24 Billion)
$868.63 Billion... Social Security Outlays
$34.60 Billion.... Social Security Administration
           
Aid to Low-Income Families ($366.50 Billion)
$40.53 Billion.... Unemployment             
$39.98 Billion.... Housing assistance               
$99.44 Billion.... Food and Nutrition Assistance (Food Stamps + WIC)       
$169.01 Billion... Other aid to low-income families               
$17.54 Billion.... Social Services           
               
Administration of justice ($51.902 Billion)               
$27.157 Billion.... Federal law enforcement
$13.938 Billion.... Federal litigation and judicial activities               
$6.2687 Billion..... Federal prison system               
$4.24 Billion..... Criminal justice assistance 
$0.74 Billion..... Federal Penitentiary Reform Act Provisions     
$-0.432 Billion…. General Criminal Justice Savings
               
General government administration ($3.87 Billion)               
$3.66 Billion..... Legislative functions               
$0.45 Billion..... Executive office programs               
$12.03 Billion.... IRS & other fiscal operations               
$1.567 Billion..... Other general government               
$-13.20 Billion…. Government Efficiency Act
$-0.62 Billion…. Eliminated Penny
$0.002 Billion…. Mandatory Tampons in Restrooms
-$0.03 Billion.... Coin Composition Revision Act

One Time Coronavirus Stimulus spending ($5295.126 Billion)
$9.226 Billion.... Coronavirus Containment and Emergency Response Act
$4807 Billion.... Economic Stimulus Act of 2020
$478.90 Billion.... JOBS AND PAY DURING THE CORONAVIRUS PANDEMIC ACT
               
Interest on debt ($295.40 Billion)               
$295.40 Billion... Net Interest

Section 3: Balance

BASE REVENUE:     $ 3973.830 Billion
Inflation Accounting: *1.012
TOTAL REVENUE: $ 4021.52 Billion

Fixed Expenditures: $ 36.05 Billion
Variable Expenditures:  $ 3979.45 Billion
One time Expenditures: $ 5295.126 Billion
Interest on Debt: $ 295.40 Billion
BASE EXPENDITURES: $9606.026 Billion
Inflation Accounting: *1.012
TOTAL EXPENDITURES: $ 9721.30 Billion
BALANCE: $ -5699.78 Billion

Section 4: Miscellaneous regulations
1. This budget shall become enacted immediately after passage
2. This budget shall ordinarily remain in efect until the 31st of December, 2021
3. All previous bills that modify the existing tax rates are hereby amended, so that their tax rates match those from this budget
4. The implementation of section 4 of the the Space Exploration, Development, and Settlement Act is hereby rolled back by 1 year and shall not apply until 2022
5. The old wealth tax from before 2020 is hereby repealed and abolished, and replaced with the new wealth tax from the Wealth Tax Act of 2020.

People's Regional Senate
Passed 4-0-0-2 in the Atlasian Senate Assembled

[At-Large Senator LouisvilleThunder]

Aye ftr