Anyone remember this?
By my projections we should now be in the black.
2014 IDS BudgetRegional SpendingPensions:
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 RevenueIncome 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