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

[Joseph Cao]

We are looking at the AGA amendment, correct?

[Joseph Cao]

From what I have gathered looking at research papers online, the major stumbling block here from a scientific perspective is that we really should be developing better, cheaper, and more efficient methods of fusion to use before we begin making large-scale plans to mine the moon. Helium-3 is probably sufficient to account for a chunk of our energy needs but we are by no means the only ones looking to commercialize space resources, and the groundwork for a global settlement is similarly something that needs to be laid before we consider this. The R&D and negotiations involved in here haven't been addressed in the original SEDDA bill either.

I think it's a fundamentally good idea, but I question whether we are prepared to implement it at this stage. Abstain.

[Joseph Cao]

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?

[Joseph Cao]

We elected a body of 18 senators and none of you can do the math for this sort of stuff? LOL

math is hard

(source: my main occupation IRL)

[Joseph Cao]

Anyway, the tax calculations are one thing; I assume once the appropriations bills stop coming to the floor we can round them up and do a bit more solid number crunching there. That is probably something I can help with in re: getting those bills off the floor.

[Joseph Cao]

Obligatory warning that I am operating on four hours of sleep, but those expenditures look kosher to me.

24 hours to object to the amendment.

[Joseph Cao]

Yankee's amendment is adopted, and the clerical correction by Scott is noted.

[Joseph Cao]

Is all of that increase in expenditure coming from the revised calculations on the CUBI?

Also a minor correction but that should be the 29th Congress, not the 9th.

[Joseph Cao]

I'm going to have a full amendment later on when I have my calculator with me, but some of the spending figures don't match their breakdowns.

[Joseph Cao]

It's very likely I missed something given I'm bad at math

You entirely missed the updated revenues I calculated, and copied the old ones instead, but I suppose it's a case of distraction more than being bad at Maths.

Thanks, I did forget that. I added it to the budget but I'm also noticing bills that probably shouldn't be in the FY20222 budget (like eliminating the penny). I'm going to have to reassess some of these and recalculate.

The eliminated penny, or the CCRA?

[Joseph Cao]

Clearing up the toplines.

FEDERAL BUDGET: FY2022

Section 1: Revenues

Income Taxes:  $ 2,062,727,012,500.00  ($ 2,062.73 billion)
 by tax bracket (all revenue from each taxpayer is counted next to the bracket where their total income falls, including that from the parts of their income subject to lower rates)
 0-13K          10%      $ 12,700,800,000.00 ($ 12.70 billion)
 13K-50K      15%      $ 297,239,775,000.00 ($ 297.24 billion)
 50K-130K    25%      $ 812,899,937,500.00 ($ 812.90 billion)
 130K-210K  29%      $ 445,079,250,000.00 ($ 445.08 billion)
 210K-413K  34%      $ 298,965,625,000.00 ($ 298.97 billion)
 413K-441K  36%      $ 54,770,625,000.00 ($ 54.77 billion)
 441K+        40.6%   $ 141,071,000,000.00 ($ 141.07 billion)

Corporate Taxes: 25% - $ 440,476,190,000.00 ($ 440.48 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 ($ 912.46 billion)
 RRPH: 5.0% (2.5% on employees, 2.5% on employers) - $ 367,925,964,130.71 ($ 367.93 billion)
 FUTA: 6.0% on first $7,000 - $ 45,193,067,010.00 ($ 45.19 billion)

Estate Tax (45% of amount above $ 3.5 million, 50% above $ 10 million, 55% above $ 50 million) - $ 34,500,000,000.00 ($ 34.50 billion)
$16.00 billion.... Amendment by the Responsible Estate Tax Act
Total: $50.50 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 - $ 63.19 billion
LIFO Repeal Offset… $ 13.00 billion

Buffett Rule Act of 2019: $46.70 billion

Other Revenue: $ 30.21 billion

Additional tax credits: $ -39.40 billion

TOTAL Revenue: $ 4394.24 billion

Section 2: Spending

Military Spending ($504.358 489.098 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 144.23 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             
                           
International affairs ($31.96 32.03 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
$0.1 Billion... Paflagonia Support Act
               
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 ($19.562 19.682 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
$0.15 Billion... Farmer Stabilization Act of 2021
               
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 ($333.424 333.4135 Billion)               
$67.40 Billion.... Ground Transportation             
$16.20 Billion.... Air Transportation               
$8.4015 Billion..... Water transportation               
$0.38 Billion..... Other transportation
$241 Billion... High Speed Rail Act
$.032 Billion... Emergency funding appropriated from the New Great Society Act to help states and regions improve the commercial driving license process and bolster the number of truckers to alleviate the supply chain crisis.
         
Community and regional development ($463.425 463.365 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
$390.00 Billion... 21st Century Civilian Conservation Corps Act
$40 Billion... Let's Get Wired Act

Education ($73.7625 73.7525 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 ($1282.14 1268.14 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
$7 Billion... Vaccine Production Act

Non-ANH Health Spending ($67.718 67.698 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
$0.025 Billion... National Silver Act
$0.003 Billion... Reduction of Childcare Costs 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 ($903.24 903.23 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 51.9117 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 4.509 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
$0.002 Billion…. Mandatory Tampons in Restrooms
               
Interest on debt ($295.40 Billion)               
$295.40 Billion... Net Interest

Section 3: Balance

BASE REVENUE:     $ 4394.24 Billion
Inflation Accounting: *1.012
TOTAL REVENUE: $ 4446.97 Billion

Fixed Expenditures: $ 36.05 Billion
Variable Expenditures:  $ 4671.58 Billion
Interest on Debt: $ 295.40 Billion
BASE EXPENDITURES: $ 5003.03 Billion
Inflation Accounting: *1.012
TOTAL EXPENDITURES: $5063.06 Billion
BALANCE: -$616.09 Billion

Section 4: Miscellaneous regulations
1. This budget shall become enacted immediately after passage
2. This budget shall ordinarily remain in effect until FY2023.
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 2023.

People's Regional Senate

[Joseph Cao]

Abstain.

[Joseph Cao]

Aye.