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Bill: Income tax proposal of March 4035
Details
Status[?]: defeated
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: November 4035
Description[?]:
The Reform! Rutania (R!R) propose to adjust the government's income tax policy to better address the economic situation of the Commonwealth of Rutania. |
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 |
> 1,350 RUT | 4% | 6,492,000,000 RUT |
> 4,800 RUT | 9% | 5,463,000,000 RUT |
> 8,400 RUT | 16% | 3,069,000,000 RUT |
> 12,000 RUT | 25% | 1,974,000,000 RUT |
> 15,600 RUT | 35% | 641,000,000 RUT | Total | 17,639,000,000 RUT |
Debate
These messages have been posted to debate on this bill:
Date | 05:15:43, May 28, 2016 CET | From | Alliance | To | Debating the Income tax proposal of March 4035 |
Message | Mr Speaker, The Ministry of Finance proposes to use the funds raised by the hike in corporate tax to fund an increase in the minimum income in which the income tax will be in effect from 1200 RUT to 1350 RUT. This will allow the poorest to pay lower taxes as less of their income will be taxed. An alternative proposal to decrease tax rates in the lowest bracket has been rejected due to the rate decrease funded being too small. Minister of Finance, Donald Moresby |
Date | 16:10:13, May 28, 2016 CET | From | Libertarian Party | To | Debating the Income tax proposal of March 4035 |
Message | Mr. Speaker, However we encourage this bill, because there's a tax cut, we would like to see a flat tax or an abolishment of the income tax, before we vote in favor of a income tax bill proposed by this 'leftist' government. Rep. Jerome Hunter, Leader LP |
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Voting
Vote | Seats | ||||
yes |
Total Seats: 217 | ||||
no | Total Seats: 234 | ||||
abstain | Total Seats: 49 |
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