SB 111-09: New Great Society Amendment (Veto Override)

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WD:
Quote

New Great Society Amendment

The New Great Society Act is amended as follows regarding:

Section 5, Subsection
(B). Payroll Tax Increase:

1.) Subchapter A, Section 3101 of the Federal Insurance Contributions Act is amended by striking “6.2 percent” and inserting “7.2 percent”. This provision is hereby repealed and replaced with 3.5 percent.

2.) Subchapter B, Section 3111, subparagraph (a) of the Federal Insurance Contributions Act is amended by striking “6.2 percent” and inserting “7.2 percent”. This provision is hereby repealed and replaced with 3.5 percent.

3.) The aforementioned payroll increase is capped at 3.5 percent for the following ten fiscal years.


Sponsor: Spark

The gentleman from Wisconsin is recognized

Senator Spark:
The reason for this amendment to the New Great Society is simple. We need to reduce taxation to lessen the burden on millions of our working families. Cutting this payroll tax down a bit does just that. This would halve the payroll tax. Of course, these funds will need to be made up some place else. But I think the burden is just too great on many Atlasians to bear right now.

WD:
Obviously will not be supporting this nor will I be supporting anything else that seeks to gut the New Great Society.

Country Liberal:
Once again reiterating that I have endorsed lowering the income threshold for UBI so that this doesn't become another free giveaway to the rich. The threshold at $100k is pretty damn high. I would like to hear from other senators on this. We're not gutting the New Great Society Act, but we ought to mend it so that resources are going to the people who actually need the money.

President Joseph Cao:
Quote from: WD on September 19, 2022, 11:39:49 PM

Obviously will not be supporting this nor will I be supporting anything else that seeks to gut the New Great Society.



Would you like to elaborate on exactly how this guts anything?

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