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Bill: Income tax proposal of August 5213
Details
Submitted by[?]: Unionist Front (⚔️)
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: December 5220
Description[?]:
| The Unionist Front propose to adjust the government's income tax policy to better address the economic situation of the Federal Republic of Hutori (Hutori). |
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 |
| > 10,000 HLR | 10% | 28,400,000,000 HLR |
| > 15,000 HLR | 16% | 243,989,000,000 HLR | Total | 272,389,000,000 HLR |
Debate
These messages have been posted to debate on this bill:
| Date | 21:48:58, November 19, 2022 CET | From | Unionist Front (⚔️) | To | Debating the Income tax proposal of August 5213 |
| Message | Mr. Speaker, This Bill will place a flat tax, greatly reducing the tax hurdles of the government. We also took into consideration the concern of the NPP and RLD, a d have ensured the total taxation remains almost the same. We will also give more time for debate to ensure any other concerns are brought up before we propose this for a final vote. John George UF Leader in Senate |
| Date | 00:07:27, November 20, 2022 CET | From | Progressive Conservative Party of Hutori | To | Debating the Income tax proposal of August 5213 |
| Message | Mr. Speaker, While I applaud the UF for their work across party lines to compromise on this issue, I do have a concern. The honourable leader of the UF mentions that this will keep revenue about the same. It will actually result in a budget deficit north of 4.5 billion. This would decrease income tax revenue by just shy of 5 billion Lira, and at the present, our surplus is about 345 million Lira. The Hutorian Sovereign wealth fund currently holds approximately 4 trillion Lira, thanks to consistent budget surpluses and the wise investments made by its board of directors. While we support utilizing those funds for key projects of national interest as allowed under Bill C-3, we do not believe it is wise to begin a habit of deficit spending. I would ask the honourable leader of the UF, how does he plan to eliminate the deficit this would create? Hon. James Houston Senator for Glentingham East Caretaker Minister of Finance |
| Date | 07:23:00, December 03, 2022 CET | From | Unionist Front (⚔️) | To | Debating the Income tax proposal of August 5213 |
| Message | Mr. Speaker, We will propose other measures to ensure our nation maintains a surplus. But for now the elimination of the bureaucracy is needed |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 105 | ||||
| no |
Total Seats: 105 | ||||
| abstain |
Total Seats: 95 |
| Random fact: Moderation will not implement nation renaming requests where the proposed name does not comply with the requirements set out in the Nation Renaming Guide: http://forum.particracy.net/viewtopic.php?f=11&t=6364 |
| Random quote: "We need a new environmental consciousness on a global basis. To do this, we need to educate people." - Mikhail Gorbachev |