SB 107-24: Hydrogenated Steel Pilot Project (Tabled)

[WD]

Hydrogenated Steel Pilot Project

a. 15% of all steel producers in Atlasia shall be randomly selected to participate in the Hydrogenated Steel Pilot Project (Hence known as HSPP). These steel producers shall be offered a 10% tax credit on their corporate tax for the next two years.

b. HSPP shall run for 10 years, at which point a future Congress shall choose to renew the program, if it was successful, and discontinue it, if it was unsuccessful.

c. These steel producers shall study the feasibility of using electrolyzed electricity to produce pure hydrogen gas and using it in place of "met" coal to produce steel from iron

d. After 5 years, based on the success of the HSPP, steel producers chosen to participate in this program may choose to begin selling the "green hydrogen steel" to other domestic steel producers or to foreign steel producers.

e. If the HSPP is successful after 10 years, and was extended by Congress, a 10 year phaseout of "met coal" steel shall begin. The phase out shall occur in the following phases, and shall be facilitated by the following incentives, the incentives shall phase out once the date or the percentage desired is reached (whichever comes first):

Phase 0 (complete): 15% of Atlasian steel producers, 10% tax credit on corporate tax for next two years
Phase 1 (Years 1-3): 35% of Atlasian steel producers (additional 20%), 15% credit on corporate tax for next year
Phase 2 (Years 3-6): 65% of Atlasian steel producers (additional 30%), 7% credit on corporate tax for next year
Phase 4 (Years 6-8): 90% of Atlasian steel producers (Additional 25), 3% credit on corporate tax for next year
Phase 5 (Years 8-10): 100% of Atlasian steel producers (Additional 10%), no incentive

f. Any steel producer still using "met coal" after Year 10 of the phaseout shall face a fine of no less than $50 million dollars.

g. $500 billion shall be allocated to the HSPP over a period of 10 years

h. Appropriations shall be paid for by a 2.5% VAT, which shall raise $80 billion a year

Sponsor: S019

The gentleman from New Jersey is recognized

[S019]

So, this bill would encourage investment in hydrogenated steel, which is a cleaner form of steel already being researched around the world, with the goal of moving us away from steel produced with the use of coal.

[Saint Milei]

Sponsor: S019

Nay

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

The time frames in this bill seems overly optimistic for something that the sponsor says is only being researched. If this bill is to achieve something workable rather than be a pipe-dream, it needs a drastic overhaul.

[Mr. Reactionary]

This is literally a corporate welfare lottery, where we give preferential tax credits to some businesses but not all businesses based on random chance. Seems like an odd way to run an economy. Maybe we can give 15% of all taxpayers  a tax cut based on this principle of random chance as well. Or forgive 15% of student loans based on a random lottery. Totally a fair and wise policy that wont anger the other 85% of taxpayers.

[WD]

Opening a final vote in 24 hours

[Saint Milei]

Motion to table this dogsht bill

[Continential]

I object as I plan on introducing an amendment.

[WD]

Opening a final vote in 24 hours

Withdrawing this

[S019]

The time frames in this bill seems overly optimistic for something that the sponsor says is only being researched. If this bill is to achieve something workable rather than be a pipe-dream, it needs a drastic overhaul.

With all due respect, please read parts d. and e.

[Mr. Reactionary]

The time frames in this bill seems overly optimistic for something that the sponsor says is only being researched. If this bill is to achieve something workable rather than be a pipe-dream, it needs a drastic overhaul.

With all due respect, please read parts d. and e.

Parts a. and h. are better. I like where we increase the cost of consumer goods to fund a tax cut lottery for the rich, elite, well-connected big steel cartels. It's a brilliant redistribution of wealth upwards that we've come to expect from the "Labor" Party. Andrew Carnegie is smiling down on us from Heaven.

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

The time frames in this bill seems overly optimistic for something that the sponsor says is only being researched. If this bill is to achieve something workable rather than be a pipe-dream, it needs a drastic overhaul.

With all due respect, please read parts d. and e.

With all due respect senator I already had.
Speaking of d and e.
Perhaps you can actually define the criteria for "success" is.

I propose the following amendment.
Remove
Rework

Hydrogenated Steel Pilot Project

a. 15% of all steel producers in Atlasia shall be randomly selected to participate in the Hydrogenated Steel Pilot Project (Hence known as HSPP). These steel producers shall be offered a 10% tax credit on their corporate tax for the next two years.

b. HSPP shall run for 10 years, at which point a future Congress shall choose to renew the program, if it was successful, and discontinue it, if it was unsuccessful.

c. These steel producers shall study the feasibility of using electrolyzed electricity to produce pure hydrogen gas and using it in place of "met" coal to produce steel from iron

d. After 5 years, based on the success of the HSPP, steel producers chosen to participate in this program may choose to begin selling the "green hydrogen steel" to other domestic steel producers or to foreign steel producers.

e. If the HSPP is successful after 10 years, and was extended by Congress, a 10 year phaseout of "met coal" steel shall begin. The phase out shall occur in the following phases, and shall be facilitated by the following incentives, the incentives shall phase out once the date or the percentage desired is reached (whichever comes first):

Phase 0 (complete): 15% of Atlasian steel producers, 10% tax credit on corporate tax for next two years
Phase 1 (Years 1-3): 35% of Atlasian steel producers (additional 20%), 15% credit on corporate tax for next year
Phase 2 (Years 3-6): 65% of Atlasian steel producers (additional 30%), 7% credit on corporate tax for next year
Phase 4 (Years 6-8): 90% of Atlasian steel producers (Additional 25), 3% credit on corporate tax for next year
Phase 5 (Years 8-10): 100% of Atlasian steel producers (Additional 10%), no incentive

f. Any steel producer still using "met coal" after Year 10 of the phaseout shall face a fine of no less than $50 million dollars.

f. $500 billion shall be allocated to the HSPP over a period of 10 years

g. Appropriations shall be paid for by a 2.5% VAT, which shall raise $80 billion a year

[S019]

I object to the amendment

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

Motion to table

[S019]

Objection and I move for a final vote

[GM Team Member and Senator WB]

I don't think I can support this with such short time frames that the Senator is proposing.

[Mr. Reactionary]

Point of order.

Shouldnt we have had a vote on the amendment proposed by Muaddib like last week?

[beesley]

I won't be voting for this bill.

[Joseph Cao]

Point of order.

Shouldnt we have had a vote on the amendment proposed by Muaddib like last week?

…yes, yes we should have.

Vote open on the Muad'dib amendment:

Hydrogenated Steel Pilot Project

a. 15% of all steel producers in Atlasia shall be randomly selected to participate in the Hydrogenated Steel Pilot Project (Hence known as HSPP). These steel producers shall be offered a 10% tax credit on their corporate tax for the next two years.

b. HSPP shall run for 10 years, at which point a future Congress shall choose to renew the program, if it was successful, and discontinue it, if it was unsuccessful.

c. These steel producers shall study the feasibility of using electrolyzed electricity to produce pure hydrogen gas and using it in place of "met" coal to produce steel from iron

d. After 5 years, based on the success of the HSPP, steel producers chosen to participate in this program may choose to begin selling the "green hydrogen steel" to other domestic steel producers or to foreign steel producers.

e. If the HSPP is successful after 10 years, and was extended by Congress, a 10 year phaseout of "met coal" steel shall begin. The phase out shall occur in the following phases, and shall be facilitated by the following incentives, the incentives shall phase out once the date or the percentage desired is reached (whichever comes first):

Phase 0 (complete): 15% of Atlasian steel producers, 10% tax credit on corporate tax for next two years
Phase 1 (Years 1-3): 35% of Atlasian steel producers (additional 20%), 15% credit on corporate tax for next year
Phase 2 (Years 3-6): 65% of Atlasian steel producers (additional 30%), 7% credit on corporate tax for next year
Phase 4 (Years 6-8): 90% of Atlasian steel producers (Additional 25), 3% credit on corporate tax for next year
Phase 5 (Years 8-10): 100% of Atlasian steel producers (Additional 10%), no incentive

f. Any steel producer still using "met coal" after Year 10 of the phaseout shall face a fine of no less than $50 million dollars.

f. $500 billion shall be allocated to the HSPP over a period of 10 years

g. Appropriations shall be paid for by a 2.5% VAT, which shall raise $80 billion a year

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

[beesley]

Aye

[Kuumo]

Aye

[Saint Milei]

aye

[Never Made it to Graceland]

Aye

[Mr. Reactionary]

Aye

[West_Midlander]

Aye