SENATE BILL: The Duke Corporate Tax Reform Act of 2013 (Amendment at Vote)

[Talleyrand]

I see no objections having been posted so the VP can declare the amendment as passed.

I objected:

I object to giving tax breaks to corporate giants longer than they're warranted.

I second the Senator's objection.

[🐒Gods of Prosperity🔱🐲💸]

I don't like where this is headed. In order to pay for all these tax breaks, the marginal rates will have to be astronomical.  I also have to question if we really an extremely protectionist policy that rewards businesses for laying off workers in other countries.  Discouraging economic activity elsewhere won't ultimately help us at home, and doesn't signal a business climate friendly to growth.

[Fmr. Pres. Duke]

Corporations don't even pay the old marginal rates anyway. This bill is merely ridding us from our double taxation policy, which hurts our competitiveness abroad, lowers our overall rates, and gives corporations incentives to invest in Atlasia. Currently, we are seeing companies profit shift to overseas subsidiaries or just hoard cash offshore that does nothing to better anyone. It's poor policy.

I wouldn't call it protectionist. We aren't penalizing anyone to remain the same, rather we are rewarding them for investing in their home country, and it's a temporary reward. Remember  we make little to no revenue off the repatriation tax as it is, no we are not going to lose out on all this money by making this change.

[bore]

Why should we reward companies for employing less people in other countries- if for example this bill leads to a company sacking workers in developing countries is it worth it?

I, however, would not be opposed to some sort of credit for employing more workers in atlasia.

[Fmr. Pres. Duke]

Why should we reward companies for employing less people in other countries- if for example this bill leads to a company sacking workers in developing countries is it worth it?

I, however, would not be opposed to some sort of credit for employing more workers in atlasia.

Why would this bill do that? We are giving them breaks for bringing jobs back to Atlasia. If they stack people overseas, they won't get the tax break. It's as simply as that.

This is aiming to eliminate any incentive for companies to stack workers overseas/hoard money overseas/keeping money offshore rather than putting it to use. 

[bore]

Why should we reward companies for employing less people in other countries- if for example this bill leads to a company sacking workers in developing countries is it worth it?

I, however, would not be opposed to some sort of credit for employing more workers in atlasia.

Why would this bill do that? We are giving them breaks for bringing jobs back to Atlasia. If they stack people overseas, they won't get the tax break. It's as simply as that.

This is aiming to eliminate any incentive for companies to stack workers overseas/hoard money overseas/keeping money offshore rather than putting it to use. 

Surely this encourages companies to sack overseas workers?

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[Southern Senator North Carolina Yankee]

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Status: Objection filed by Senator TNF, a vote is thus necessary on the above amendment Mr. VP.

[Sopranos Republican]

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Status: Objection filed by Senator TNF. Senators, a vote is now open on amendment 58:70. Please vote: AYE, NAY, or Abstain.

[Chancellor Tanterterg]

Nay

[Fmr. Pres. Duke]

Why should we reward companies for employing less people in other countries- if for example this bill leads to a company sacking workers in developing countries is it worth it?

I, however, would not be opposed to some sort of credit for employing more workers in atlasia.

Why would this bill do that? We are giving them breaks for bringing jobs back to Atlasia. If they stack people overseas, they won't get the tax break. It's as simply as that.

This is aiming to eliminate any incentive for companies to stack workers overseas/hoard money overseas/keeping money offshore rather than putting it to use. 

Surely this encourages companies to sack overseas workers?

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We are giving an incentive to hire in Atlasia. The point of this bill is to overhaul the corporate tax code that current discourages investing and hiring in this country and makes it more user friendly. It was added later by an amendment. If it is a deal breaker, we can remove it. It was not part of my original draft, but I think it is a good idea to encourage domestic job growth and production.

[bore]

Introducing an amendment then:

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Also, Nay on Spiral's amendment.

[TNF]

Nay

[PPT Spiral]

Aye

[Talleyrand]

Nay

[President Tyrion]

Abstain for now

[tmthforu94]

Aye!

[Southern Senator North Carolina Yankee]

AYE but I would want to offer an amendment or two afterwards.

[Southern Senator North Carolina Yankee]

Offering the President's Amendment

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[Goldwater]

AYE

[TNF]

I object to that amendment, FTR, Yankee.

[🐒Gods of Prosperity🔱🐲💸]

Nay

If we changed this to a standard tax credit amount (ex. $1000/job) I could support an increase in the maximums. 

[Fmr. Pres. Duke]

Nay

If we changed this to a standard tax credit amount (ex. $1000/job) I could support an increase in the maximums. 

I actually like this more than what is currently in the bill for simplicity sake. I have altered my amendment before we vote on it.

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[tmthforu94]

For the record, your amendment would wipe away Senator Spiral's, Mr. President.

[Fmr. Pres. Duke]

For the record, your amendment would wipe away Senator Spiral's, Mr. President.

I'll change mine if Spiral's is adopted. At the moment, I am not sure which amendment is being adopted/voted on

[Chancellor Tanterterg]

Aye on Duke's amendment, if that is what we are voting on.