SB 29-25: Federal Budget FY 2022 (Passed)

[The world will shine with light in our nightmare]

Now that we're officially in session, this needs to be brought to the floor. We need to decide how we're going to deal with the Comptroller General and then proceed to scoring. If we cannot find someone willing to take the position, we should either abolish it or let the President decide what he wants with it.

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-$154.00 Billion.... Delay on the implementation of the Space Exploration, Development, and Settlement Act   

Is there a way to remove this delay or is it too late? As most of you know this has been a big issue of mine for nearly 2 years and I was disappointed to see that it was delayed.

It's not too late to do anything because we're taking this up as the new Senate.

Personally, I'm weary of all big investments in space exploration (and inevitably colonization) when we have environmental as well as financial and sustainability crises on earth. I am inclined to support the delay unless there is a pressing need for this program now.

[The world will shine with light in our nightmare]

As an FYI, I will not support a VAT or any reduction in the highest brackets. The VAT is a tax on the poor and middle class that my region rejected, and we ended up not needing it to even balance the budget.

Also, while this is being fleshed out I will not open a final vote until a decision to join the global corporate tax pact is reached. That doesn't go into effect until FY2023, but we'll still a need a note for next year.

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Motion to strike all one-time coronavirus spending from the FY2022 budget.

Senators have 24 hours to object.

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Objection. Looking at the Third Emergency Economic Stimulus Act, there are still payments that extend past October 1; they just decrease over time. The amount would still have be calculated, but it would be less than it currently is on the bill.

Upon further thought, the language of the aforementioned bill does not suggest an end date of the payments, so we would have to guess if Congress will end them manually.

Are you still objecting?

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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-$5M+ 45% 40.6%     $ 134,640,706,551.00  
$5,000,000+ 55%                  
                                            
Corporate Taxes:  $ 347,763,510,122.19  ($ 347.76 billion) $ 313,972,295,288.00 ($ 313.97 billion)
 by tax bracket                                            
 0-100K     0% 25%       $ 0.00 $
 100K-1M    15% 25%       $ 2,678,940,033.99 $ 4,464,900,056.65                
 1M-10M     21.5% 25%    $ 5,172,280,041.70 $ 6,014,279,118.26                  
 10M+       28% 25%         $ 339,912,290,046.51 $ 303,493,116,113.00                

...
                        
TOTAL Revenue: $ 3973.83 Billion $ 39040.04 Billion

Section 3: Balance

BASE REVENUE:     $ 3973.830 Billion $ 3940.04 billion
Inflation Accounting: *1.012
TOTAL REVENUE: $ 4021.52 Billion $ 3987.32 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 $ 4362.63 Billion
Inflation Accounting: *1.012
TOTAL EXPENDITURES: $ 9721.30 Billion $4362.63 Billion
BALANCE: $ -5699.78 Billion $ -375.31 Billion

Status: Awaiting Sponsor Feedback

[The world will shine with light in our nightmare]

Noted.

TOTAL Revenue: $ 3973.83 Billion $ 3904.04 Billion

This will still need feedback from Yankee. He's been busy lately, so if his absence continues I will allow another senator to co-sponsor.

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Senators have 24 hours to object.

[The world will shine with light in our nightmare]

We are looking at the AGA amendment, correct?

Yes.

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Hearing no objection, AGA's amendment is adopted.

[The world will shine with light in our nightmare]

Section 2: Spending

General science, space, and technology ($185.18 $339.18 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          

Section 3: Balance

BASE REVENUE:     $ 3940.04 billion
Inflation Accounting: *1.012
TOTAL REVENUE: $ 3987.32 billion

Fixed Expenditures: $ 36.05 Billion
Variable Expenditures:  $ 3979.45 Billion $4133.45 Billion
Interest on Debt: $ 295.40 Billion
BASE EXPENDITURES: $ 4362.63 Billion $4464.9 Billion
Inflation Accounting: *1.012
TOTAL EXPENDITURES: $4362.63 Billion $4518.4788 Billion
BALANCE: $ -375.31 Billion $-531.1588 Billion

Sponsor Feedback: Hostile

Senators, please vote Aye, Nay, or Abstain.

[The world will shine with light in our nightmare]

Weatherboy makes a compelling case for the investment. If space exploration can solve our energy and environmental crises long-term, then we need to get started now.

Aye

[The world will shine with light in our nightmare]

It appears that we never, to my knowledge, subtracted spending on the Selective Service System, which no longer exists. This gives us an opportunity for a small, very small, defense spending cut. I will undo the amendment if any budget passed after the law is found to have already defunded it.

The idiots in RL Congress actually increased spending on SSS in 2019, so I'll just take from that budget and deduct it permanently.

Military Spending ($504.358 $504.331 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
$-26.24 Million... End Selective Service Act

Sponsor feedback?

[The world will shine with light in our nightmare]

Also, the amendment being voted on currently has enough votes to pass. Senators have 24 hours to change their vote.

[The world will shine with light in our nightmare]

Senators have 24 hours to object to the new amendment.

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Hearing no objection, the amendment is adopted.

[The world will shine with light in our nightmare]

I assume my amendment also has been adopted? You didn't say.

Pardon me. Yes, your amendment has been adopted.

Debate resumes.

[The world will shine with light in our nightmare]

Here's another amendment making note of the recently passed corporate Global Minimum Tax that we can score for 2023:

FEDERAL BUDGET: FY2022

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: 25% - $ 283,333,332,500.00 ($ 283.33 billion)

Global Minimum Tax (effective FY2023): 0$       

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: $ 39040.04 Billion $ 39009.40 billion

[The world will shine with light in our nightmare]

Hearing no objection, Ishan's amendment is adopted.

Sponsor feedback still needed for the new amendment.

[The world will shine with light in our nightmare]

Hearing no objection, the amendment is adopted.

[The world will shine with light in our nightmare]

So, does anyone have specific proposals to change the tax code and the numbers for how revenue would be affected?

[The world will shine with light in our nightmare]

Bumping again seeing as it's been a whole two weeks without debate. At this rate, we're not making the deadline without CG input and we will have to pass a CR until someone can fill that role.

[The world will shine with light in our nightmare]

There's still a couple of bills on the floor with appropriations involved – my cybersecurity bill and Koopa's prison bill, probably more that I've forgotten. I think both are nearly in a condition to be voted on?

There's also the CUBI (presumably Sev will sign it) and the Southwestern water bill that's about to be voted on.

[The world will shine with light in our nightmare]

Let's not let this fall by the wayside. That CR obviously gives us a good deal of flexibility, but we still need to pass a budget.

So the total cost of the Southwestern Water Conservation Act (this was very easy to calculate) is $1,376,500,000.

The CUBI is for families with children making >$150,000 and pays $1,000 monthly checks. (The key variable we need to find is the number of families with minor children with a disposable income under $150,000, multiplied by 12,000 for the annual cost.)

Thankfully the TMTH Act, which we're still debating, doesn't even go in effect until the 2023 fiscal year, so we don't have to worry about that for now.

But if we're going to change the tax code we also need new figures for that.

[The world will shine with light in our nightmare]

At least we have two tax reform bills on the floor finally. That won't make calculating this any faster but we should deal with these now while we're looking for places where cuts are possible.