SB 107-23: Indexing the Child Tax Credit to Inflation Act (Passed)

[WD]

Indexing the Child Tax Credit to Inflation Act
1. The child tax credit is to be indexed to inflation from the 2023 fiscal year onwards.

Sponsor: Ishan

The gentleman from Northern Ireland is recognized

[Continential]

So this act if enacted would index the Child Tax Credit to inflation and this act costs 19 billion dollars according to the Committee for a Responsible Federal Budget. I urge my fellow Senators to pass this act because this ensures that the Child tax credit stays the same regardless of the amount inflation we have.

[The world will shine with light in our nightmare]

Make sure to authorize the $19 billion in the bill itself before doing anything else, so that future presidents and vice presidents won't have to go through what we did.

[Continential]

Make sure to authorize the $19 billion in the bill itself before doing anything else, so that future presidents and vice presidents won't have to go through what we did.

Sorry for not responding sooner but how would one do that?

[The world will shine with light in our nightmare]

Make sure to authorize the $19 billion in the bill itself before doing anything else, so that future presidents and vice presidents won't have to go through what we did.

Sorry for not responding sooner but how would one do that?

Just make sure the price is reflected in the final text so that it will be easier to compile expenditures.

[Continential]

Make sure to authorize the $19 billion in the bill itself before doing anything else, so that future presidents and vice presidents won't have to go through what we did.

Sorry for not responding sooner but how would one do that?

Just make sure the price is reflected in the final text so that it will be easier to compile expenditures.

Would this be good?

Indexing the Child Tax Credit to Inflation Act
1. The child tax credit is to be indexed to inflation from the 2023 fiscal year onwards.
2. The expenditure of this act is 19 billion dollars.

[The world will shine with light in our nightmare]

Make sure to authorize the $19 billion in the bill itself before doing anything else, so that future presidents and vice presidents won't have to go through what we did.

Sorry for not responding sooner but how would one do that?

Just make sure the price is reflected in the final text so that it will be easier to compile expenditures.

Would this be good?

Indexing the Child Tax Credit to Inflation Act
1. The child tax credit is to be indexed to inflation from the 2023 fiscal year onwards.
2. The expenditure of this act is 19 billion dollars.

Yes.

[WD]

24 hours to object to Ishan’s amendment

[Deep Dixieland Senator, Muad'dib (OSR MSR)]

I object, Only as I think the amendment should provide greater clarity.

$19 Billion for the current FY? Next FY? for eternity moving forward?

[WD]

Ishan, please clarify.

[Deep Dixieland Senator, Muad'dib (OSR MSR)]

Ishan, please clarify.

Mr President PT, I will of course like to withdraw my objection once clarity is provided.

[Continential]

Ishan, please clarify.

Mr President PT, I will of course like to withdraw my objection once clarity is provided.

Well, it is 19 billion over the next 10 fiscal years iirc. I'll check again when I get access to a laptop that has excel.

[Joseph Cao]

Ishan, please clarify.

Mr President PT, I will of course like to withdraw my objection once clarity is provided.

Well, it is 19 billion over the next 10 fiscal years iirc. I'll check again when I get access to a laptop that has excel.

Any luck with that?

[WD]

Ishan?

[Continential]

Ishan?

Well, I accessed the tool again and the 19 billion is for the next ten fiscal cycles.

[Continential]

Indexing the Child Tax Credit to Inflation Act
1. The child tax credit is to be indexed to inflation from the 2023 fiscal year onwards.
2. The expenditure of this act is 19 billion dollars from a 0.6% increase in the 40.6% tax bracket which shall be spent over the next ten fiscal cycles.

[Deep Dixieland Senator, Muad'dib (OSR MSR)]

Ishan, please clarify.

Mr President PT, I will of course like to withdraw my objection once clarity is provided.

I now motion for a final vote.

[WD]

24 hours to object to Ishan’s amendment, if no objection is raised we will go to a final vote.

[West_Midlander]

I object. Where will the funding for this legislation come from?

[beesley]

I think the bill should clarify whether the said amount of money is new appropriations, or from the department's existing budget. I'll leave that up to the sponsor.

[Continential]

Fixed.

[WD]

I object. Where will the funding for this legislation come from?

Do you still object?

[West_Midlander]

I object. Where will the funding for this legislation come from?

Do you still object?

Yes. The bill says from "new appropriations" but where is the money coming from specifically?

[Continential]

I object. Where will the funding for this legislation come from?

Do you still object?

Yes. The bill says from "new appropriations" but where is the money coming from specifically?

Clarified.

[WD]

WM, do you still object or do you withdraw?