SB 110-25: Federal Budget FY2023

[Spark]

Aye

[Utah Neolib]

Aye

[OSR stands with Israel]

Aye

[WD]

Aye

[GregTheGreat657]

Aye

[SevenEleven]

Aye.

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

Aye

[KoopaDaQuick 🇵🇸]

aye

[Saint Milei]

Nay

[Devout Centrist]

Aye

[Southern Senator North Carolina Yankee]

Aye

[Mr. Reactionary]

Budget passes 13-1-0-4.

[Mr. Reactionary]

FEDERAL BUDGET: FY2023

Section 1: Revenues

Income Taxes:  $ 2,134,417,552,750.00  ($ 2,134.42 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  31%  $452,282,000,000.00 ($ 452.28 Billion)   
 210K-413K  38%  $317,099,000,000.00 ($ 317.10 Billion)
 413K-441K  45%   $ 68,463,281,250.00 ($ 68.46 billion)
 441K+       50%  $ 173,732,759,000.00 ($ 173.73 billion)

Corporate Taxes: 25% – $ 440,476,190,000.00 ($ 440.48 billion)

Global Minimum Tax: $ 34.68 billion

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
$1,578.898 billion

Healthcare Taxes:
 40% Cadillac Tax – $ 0.00 billion
 3.8% on Net Investment Income – $ 27.50 billion

Excise Taxes/customs duties:
Carbon Tax (2018) – $ 81.75 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
We Should Help Workers Act tariff revenue – $11.025 billion

Other Revenue: $ 30.21 billion

Additional tax credits: $ -39.40 billion

Capital Gains Inflation Deduction: $ -15.00 billion
Indexing CTC to Inflation Act: $ -1.90 billion
Financial Transaction Tax – $220.00 billion
Pandemic Wealth Tax: $233.61 billion

TOTAL Revenue: $ 6,319,332,164,930.00 ($ 6,319.33 billion)

Section 2: Spending

Military Spending ($341.00 Billion)             
$100.00 Billion... Military personnel             
$150.00 Billion... Operation and maintenance             
$75.00 Billion... Procurement             
$25.00 Billion ... Research, development, test and evaluation             
$15.00 Billion..... Military Construction, Family Housing and Other             
$6.00 Billion.... Atomic Energy Defense Activities             
$0.00 Billion..... Fiscal Responsibility in our Military Act
$-30.00 Billion… F-35 Procurement Halt
                           
Military Retirement ($230.00 Billion)                           
$100.00 Billion.... Income security for veterans             
$20.00 Billion.... Veterans education, training, and rehabilitation                           
$100.00 Billion.... Hospital and medical care for veterans and retired military (added in from Healthcare below)             
$10.00 Billion..... Housing and other veterans benefits and services               
                       
International affairs ($33.37 Billion)             
$18.00 Billion.... International development and humanitarian assistance             
$8.55 Billion..... International military aid             
$11.96 Billion.... Conduct of foreign affairs             
$1.15 Billion..... Foreign information and exchange activities 
$-8.79 Billion.... International Financial Programs
$2.50 Billion.... Support Iranian Civilians Act (one-time)
             
General science, space, and technology ($339.00 Billion)
$11.08 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
             
Non-Defense Energy Spending ($47.00 Billion)             
$3.15 Billion..... Energy supply             
$1.00 Billion..... Energy conservation and preparedness     
$0.35 Billion..... Energy information, preparedness, & regulation
$10.00 Billion.... Energy Rebate and Subsidy Act   
$32.50 Billion.... Gas Tax Act   
           
Natural resources and environment ($34.00 Billion)             
$4.89 Billion..... Water resources             
$11.00 Billion.... Conservation and land management         
$4.40 Billion..... Recreational & Park resources     
$7.16 Billion..... Pollution control and abatement   
$6.55 Billion..... Other natural resources
             
Agriculture ($18.00 Billion)       
$15.95 Billion.... Farm income stabilization & crop insurance       
$4.00 Billion..... Agricultural research and services
$0.03 Billion..... No More Going Hungry in Atlasia Act
-$1.98 Billion.... Food Price Inflation Act
             
Commerce and Housing Loan Programs ($0.00 Billion)             
$-22.33 Billion... Federal Housing Loan Programs             
$2.40 Billion..... Postal service             
$2.40 Billion..... Deposit insurance             
$12.00 Billion.... Domestic Semiconductor Chip Promotion Act
$5.70 Billion..... Other advancement of commerce
$-0.17 Billion…. Eliminated Capital Construction Grants 
             
Transportation ($185.00 Billion)               
$67.4865 Billion.... Ground Transportation           
$16.20 Billion.... Air Transportation             
$8.4015 Billion..... Water transportation             
$0.38 Billion..... Other transportation
$0.032 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.
$92.50 Billion…. New Great Society Act (highway, rail, and airport spending)
       
Community and regional development ($1,028.00 Billion)             
$3.605 Billion….… Community development           
$2.00 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         
$2.00 Billion……. Buy-Atlasian Contracting Rules
$10.00 Billion….. Appalachia Reinvestment Act
$15.00 Billion….. Reservation Reinvestment Act (phases out after FY2023)
$30.00 Billion………. Let's Get Wired Act amended by New Great Society Act
$0.05 Billion……. Combating Asian Hate Crimes Act (one-time)
$1.375 Billion….. Southwestern Water Conservation Act (one-time)
$0.05 Billion….. HHH Helping Hand to the Homeless Act (one-time)
$7.50 Billion….. National Hostel Program Act
$945.00 Billion…. New Great Society CUBI

Education ($159.2275 Billion)
$39.03 Billion.... Elementary, Secondary & Vocational education
$31.45 Billion.... Higher education             
$3.26 Billion..... Research and general education           
$0.00 Billion..... Orlando Act
$-0.0125 Billion…. Cap on certain student loans
$55.00 Billion….. School Improvement and Jobs Act (one-time)
$20.00 Billion….. Creating Opportunities for More Ed Tech Act
$10.50 Billion….. School Facilities Improvement Act (one-time)
             
Training, labor and unemployment ($19.00 Billion)             
$7.58 Billion..... Training and employment             
$1.22 Billion..... Labor law, statistics, and other administration'
$9.20 Billion...... Public Service Act         
$1.00 Billion.... Agency of Cooperative Enterprises (see Act to encourage the growth of worker owned enterprises)

Atlasian Healthcare ($1,216.50 Billion)             
$423.77 Billion... Senior Healthcare
$12.90 Billion.... Federal employees' and retired employees' health benefits 
$425.42 Billion... Medical Services
$338.81 Billion... Sliding Scale Subsidies
$15.60 Billion.... Healthcare Subsidy Office (HSO) and AtlasCare Office (ACO) Administration

Non-ANH Health Spending ($67.00 Billion)             
$24.25 Billion.... Disease control, public health and bioterrorism
$28.45 Billion.... Health research and training       
$4.00 Billion..... Consumer and occupational health and safety   
$10.00 Billion…. Opioid Epidemic Commission
$0.3 Billion.... Comprehensive Opioid Response Act (phases out after FY2023)
             
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 ($903.00 Billion)
$868.63 Billion... Social Security Outlays
$34.37 Billion.... Social Security Administration

Aid to Low-Income Families ($366.00 Billion)
$40.30 Billion.... Unemployment             
$39.75 Billion.... Housing assistance             
$99.44 Billion.... Food and Nutrition Assistance (Food Stamps + WIC)       
$169.01 Billion... Other aid to low-income families             
$17.50 Billion.... Social Services       
             
Administration of justice ($34.99675 Billion)             
$10.00 Billion.... Federal law enforcement
$13.80 Billion.... Federal litigation and judicial activities             
$6.2687 Billion..... Federal prison system
$0.38 Billion….. Treating Incarcerated Prisoners Humanely Act (one-time)     
$0.00005 Billion….. TACMIF allocation for the above
$4.24 Billion..... Criminal justice assistance 
$0.74 Billion..... Federal Penitentiary Reform Act Provisions     
$-0.432 Billion…. General Criminal Justice Savings
             
General government administration ($2.80 Billion)             
$3.00 Billion..... Legislative functions             
$0.45 Billion..... Executive office programs             
$11.00 Billion.... IRS & other fiscal operations       
$1.55 Billion..... Other general government           
$-13.20 Billion…. Government Efficiency Act
$0.002 Billion…. Mandatory Tampons in Restrooms
-$0.002 Billion.... Toilet Paper Equity Act
             
Interest on debt ($295.40 Billion)             
$295.40 Billion... Net Interest

Section 3: Balance

BASE REVENUE: $ 6319.33 Billion
Inflation Accounting: *1.012
TOTAL REVENUE: $ 6395.16 Billion

Fixed Expenditures: $ 36.05 Billion
Variable Expenditures:  $ 4760.00425 Billion
Interest on Debt: $ 295.40 Billion
BASE EXPENDITURES: $ 5091.45425 Billion
Inflation Accounting: *1.012
TOTAL EXPENDITURES: $ 5152.55 Billion

BALANCE: $1242.61 Billion

Section 4: Miscellaneous regulations

1. This budget shall become enacted immediately upon passage.
2. This budget shall ordinarily remain in effect until FY2024.
3. All previous bills that modify the existing tax rates are hereby amended, so that their tax rates match those from this budget.

Passed 13-1-0-4 in the Atlasian Senate assembled.

- R, PPT

[Joseph Cao]

Thank you, folks!