IDS3: Budget

[Donerail]

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[Associate Justice PiT]

     I'd like to thank the Speaker for putting this up. While incorporating GM numbers into my earlier report, I discovered an accounting error in the Ad Valorem Taxes section that was undercounting our revenue by ~$10,000,000,000. It helps the balance, though we still have a ways to go.

[The world will shine with light in our nightmare]

Two questions.

1. What are we spending/gaining from Puerto Rico that we aren't from other states?
2. Why is there a net cost from the Deficit Reduction Act?

[Associate Justice PiT]

Time to sell Puerto Rico

If we want to make any changes to our spending/taxation, we would have to amend specific bill pertaining to those things, correct? Or can we simply change the numbers on the budget and let the chips fall where they may?

     We've done either one at various times in the past. I would usually prefer to pass separate bills, but with our beastly queue it would be much simpler to just change it in the budget now.

Two questions.

1. What are we spending/gaining from Puerto Rico that we aren't from other states?
2. Why is there a net cost from the Deficit Reduction Act?

     1. The site that we've been using to calculate the bases doesn't include Puerto Rico, so the purpose of the Other/Puerto Rico line is to estimate its contribution to base figures.

     2. I forgot to include the minus sign. If you tally the line up, you'll find that the Deficit Reduction Act is being applied as -$3.2 billion.

[Donerail]

I'd think our best approach would be to see how other regions conduct their budgeting process - our current one doesn't seem the best suited to reflect Atlasia's different economic conditions and different federal-regional balance.

[The world will shine with light in our nightmare]

Nix raises a good point.  Exactly what is this 'Pentagram' we're supposed to fund?

[The world will shine with light in our nightmare]

Also, here is a more thorough budget outline we can consider writing ours after.  What do you think, Emperor?

[The world will shine with light in our nightmare]

What the-

Do we really need to fund this, guys?  Are there any long-term economic benefits to this project?  It's great if it brings in revenue, but if we want to make cuts that don't hurt our economy, this would be a good place to start.

[Donerail]

What the-

Do we really need to fund this, guys?  Are there any long-term economic benefits to this project?  It's great if it brings in revenue, but if we want to make cuts that don't hurt our economy, this would be a good place to start.

I think, at this point, it's generating sufficient revenue to more than cover its operating expenses.

[Associate Justice PiT]

Also, here is a more thorough budget outline we can consider writing ours after.  What do you think, Emperor?

     This outline came to exist because these were the categories supplied by the site that we used. If you can figure out what the breakdown will be according to those categories, I have no issues with using them.

What the-

Do we really need to fund this, guys?  Are there any long-term economic benefits to this project?  It's great if it brings in revenue, but if we want to make cuts that don't hurt our economy, this would be a good place to start.

I think, at this point, it's generating sufficient revenue to more than cover its operating expenses.

     This, more or less. The main funding obstacle was taken care of back in 2011.

[The world will shine with light in our nightmare]

Okay.  I'll support keeping the project in the budget as long as the region gains enough to cover the expenses from it.

As far as the outline goes, unfortunately I'm not sure how the money each department gets is allocated toward each service.  This may be something we have to ask the GM about if we want to use this.  I guess it doesn't matter which outline we use, though it would be easier to determine where we cut/increase spending if we have a thorough overview of the expenses.

[Associate Justice PiT]

     Anyone remember this? By my projections we should now be in the black.

2014 IDS Budget

Regional Spending
Pensions:
Base: $43.1 billion
Total: $43.1 billion

Health care:
Base: $130.1 billion
Total: $130.1 billion

Education:
Base: $76.0 billion
Tertiary Education/Other Capital Outlay-Higher Education/Southeastern Educational Incentive Act: $3.5 billion
Not Tertiary Education/Is Our Children Learning Act Part II: (-$14.2 billion)
Total: $65.3 billion

Defense:
Base: $0.8 billion
Military Defense/IDS Militia Structure Act: $0.4365 billion
Total: $1.2365 billion

Welfare:
Base: $3.6 billion (-$27.7 billion from Basic Compassion Act)
Other/Basic Compassion Act: $5 billion
Total: $8.6 billion

Protection:
Base: $22.1 billion
Total: $22.1 billion

Transportation:
Base: $31.7 billion
Total: $31.7 billion

General government:
Base: $5.9 billion
Total: $5.9 billion

Other spending:
Base: $22.8 billion
Puerto Rico: $10.6 billion (total spending of PR- PR is not included in any other category in Spending but the Total Regional Spending)
Spending Waste Reduction/Deficit Reduction Act of 2013: -$3.2 billion
Total: $30.2 billion

Total Regional Spending: $338,236,500,000

Regional Revenue
Income Taxes:
Base: $0 (state cannot collect their own income taxes)
Corporate Income Tax/Tax-Corporate Net Income/Put the "free" back in Free Enterprise Bill: (see personal income tax rate)
Corporate Income Tax Rate: 4% ($9.2 billion)
Personal Income Tax Rate: 5.8% ($57.15 billion)
Total: $66.35 billion

Social Security Taxes:
Base: $0 (-$23.0 billion from 2012 IDS Budget Amendments)
Total: $0

Ad-valorem Taxes:
Base: $150.4 billion
Excise Taxes/Tax-Alcoholic Beverage Sales/Southeast Alcohol Initiative, Section 8: $1.2 billion ($1.00/proof liter or $0.385/gallon for beer, $0.909/gallon for wine, $3.31/gallon for spirits)
Excise Taxes/Tax-Tobacco Products Sales/Southeast Tobacco Initiative, Section 6: $5.9 billion
Excise Taxes/Tax-Marijuana Products Sales: $3.00/ounce ($0.25 billion)
Sales Taxes/Tax-Public Utilities Sale/Southeast Nuclear Energy Initiative, Chapter 4: 80% of standard electricity excise tax: $0
Sales Taxes/Tax-Public Utilities Sale/Southeast Biomass Initiative, Section 3: 80% of standard electricity excise tax: $0
Property Taxes/Tax-Property/Southeast Nuclear Energy Initiative, Chapter 4: n/a ($0)
Transportation/Tax-Motor Fuel Sales/Transportation Commission Initiative, Chapter 3, Section 22: $0.08/liter ($16.9 billion)
Transportation/Tax-Motor Vehicle License/Fair Consequences Initiative, Section 3: $10,700,000/year
Total: $174.6607 billion

Fees and Charges:
Base: $51.6 billion
Other/Charges-All Other/Pentagram Creation Act: $5,700,000/year
Other/Charges-All Other/Safe Roads Initiative, Section 6: $44,400,000/year
Total: $51.6521 billion

Business and Other Revenue:
Base: $37.6 billion
Business and Other Revenue/Utilities Tax/Southeast Nuclear Energy Initiative, Chapter 4: -66.1 million (-0.0661 billion)
Puerto Rico: $8.47 billion
Total: $46.0039 billion

Gross Public Debt: $598,700,000,000 (assumes that Regional Government has not accumulated its own public debt)

Rainy Day Fund: $50,000,000,000
Total Regional Revenue: $338,666,700,000 (does not include Gross Public Debt or Rainy Day Fund)

Balance: $430,200,000

[The world will shine with light in our nightmare]

Oh, that's embarrassing...

Now that we're in the black, I'm pleased with the numbers.  SJoyce, assuming you're back, would you like to bring this to a vote?

[Associate Justice PiT]

     It's alright. I should have updated this sooner anyway.

[The world will shine with light in our nightmare]

Members, we will now proceed to a final vote.  Please vote Aye, Nay, or Abstain.

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[The world will shine with light in our nightmare]

Aye.

[CatoMinor]

aye

[Supersonic]

Aye.

[Donerail]

Aye.


The budget has passed. 24 hours to change votes.

[Donerail]

This legislation has passed and is presented to the Emperor for his signature or veto.

[Associate Justice PiT]

     On the 2014 IDS Budget: by the powers vested in me as Emperor of this region, I thus sign it into law.

     Be it resolved, X Emperor PiT