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Bill: Senate Resolution 168: Tax Cut for All Act
Details
Submitted by[?]: Federal Independent Party
Status[?]: passed
Votes: This bill proposes to change income taxes. It requires more than half of the legislature to vote yes. This bill will pass as soon as the required yes votes are in, or will be defeated if unsufficient votes are reached on the deadline.
Voting deadline: September 2897
Description[?]:
| SR 168: TCAA The Federal Independent Party propose to adjust the government's income tax policy to better address the economic situation of the Federal Republic of Solentia. This new tax code will cut taxes for every income bracket, relieving an enormous amount of fiscal stress on the Solentian people. Instead, revenue from corporations and sales tax will be used to help fill the gap, along with planned budget revisions in bloated areas of government. |
Proposals
Article 1
We propose to alter income tax brackets to the following setup. Information about the current income tax system can be found here.
| Bracket | Tax | Estimated Revenue |
| > 25,000 SOL | 3% | 6,251,000,000 SOL |
| > 30,000 SOL | 5% | 13,226,000,000 SOL |
| > 37,000 SOL | 11% | 38,626,000,000 SOL |
| > 50,000 SOL | 15% | 28,649,000,000 SOL |
| > 60,000 SOL | 20% | 39,482,000,000 SOL |
| > 75,000 SOL | 25% | 62,303,000,000 SOL |
| > 100,000 SOL | 32% | 47,291,000,000 SOL | Total | 235,828,000,000 SOL |
Debate
These messages have been posted to debate on this bill:
| Date | 22:24:37, February 20, 2010 CET | From |  Coalition for National Unity [CNU] | To | Debating the Senate Resolution 168: Tax Cut for All Act |
| Message | "A rise of 2% tax for the poorest in the nation and tax cuts for the rich? Not something the CMP agrees with." Sen. Taso Nakamura Shadow Finance Secretary |
| Date | 22:27:56, February 20, 2010 CET | From | Coalition for National Unity [CNU] | To | Debating the Senate Resolution 168: Tax Cut for All Act |
| Message | "If a man earns 19,000SOL, he is expected to pay 2% more tax in this budget than before, why are the poor being targetted?" Aidan Fraer, CMP Leader |
| Date | 04:14:59, February 21, 2010 CET | From | Federal Independent Party | To | Debating the Senate Resolution 168: Tax Cut for All Act |
| Message | Not such. Under this tax revision, incomes will only be taxed starting at the $25,000 SOL bracket. So that means the lower class worker making $20,000 under the former tax laws will now not have to worry about an income tax as a hassle in their finances. The poor have been only alleviated by this revision, not burdened. Senator Sherrod Adlay |
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Voting
| Vote | Seats | ||
| yes | Total Seats: 56 | ||
| no | Total Seats: 44 | ||
| abstain | Total Seats: 0 |
| Random fact: Use a valid e-mail address for your Particracy account. If the e-mail address you entered does not exist, your account may be suspected of multi-accounting and inactivated. |
| Random quote: "There is a mandate to impose a voluntary return to traditional values." - Ronald Reagan |