SENATE BILL: Duke’s Let’s Put Atlasia to Work Program (Law'd)

[Cincinnatus]

You must be logged in to read this quote.

Sponsor: Senator Yankee
Slot: Emergency

[Southern Senator North Carolina Yankee]

Damn, Now I am at the clogging limit.

[Cincinnatus]

Damn, Now I am at the clogging limit.

All part of my plan..

[Southern Senator North Carolina Yankee]

Okay this is a tax incentive directly tied increase hiring so not of that cut and pray stuff that the left always accuses the right of trying to do.

Also, it includes a lending program to spur businesses as well. This was originally an idea of the now former Emperor PiT, who suggested something similar a few months ago. We have had similar lending programs, including one that I worked on with the great Marokai Blue way back in the day in 2009.

If there are any other details or questions I recommend asking President Duke for he is the artist who painted this masterpiece.

[Southern Senator North Carolina Yankee]

Damn, Now I am at the clogging limit.

All part of my plan..

We might get to a point where we run out of stuff by Senators not at the clogging limit, which you know what happens then?

It goes away, the clogging limit was designed by people (SPC I think) who were forward thinking and forsaw that so if there are no other bills by other SEantors, the limit is removed.

[🐒Gods of Prosperity🔱🐲💸]

Didn't we just establish a tax credit for employment under the tax reform act?

edit: yep.

You must be logged in to read this quote.

[TNF]

You must be logged in to read this quote.

[Southern Senator North Carolina Yankee]

I would support including the co-ops as potential recipients but to the exclusion of all others is a bridge too far in my view and won't provide the job creation assistance desired with this bill since the universe of potential jobs to be created, will be dominated by private sector business.

And I know the Senator disgrees, there is no inherent evil regarding for-profit business to justify excluding them, either.

So I object to the amendment.

[Cincinnatus]

You must be logged in to read this quote.

Sponsor Feedback: Hostile
Status:  A vote is now open on the above Amendment.  Senators please vote Aye, Nay or Abstain.

[🐒Gods of Prosperity🔱🐲💸]

Nay

[President Tyrion]

Nay

[Fmr. Pres. Duke]

Sorry, I was away for the weekend.

Anyway, in the past we basically give out tax credits to businesses who create new jobs, right? But what about new businesses that don't make any money? Giving out credits to them really accomplishes nothing because they don't pay taxes. This bill aims to allow them to cash in the credits and use them towards building their business as they create jobs. I also want this to apply to green jobs because that is still has untapped potential in our country.

The second part is a business loan program with favorable interest rates. I'll be honest and say the $50 billion was a random number. I am open to changing that to something different, whether it be higher or lower.

[Southern Senator North Carolina Yankee]

NAY

[Lumine]

Nay.

[🐒Gods of Prosperity🔱🐲💸]

Sorry, I was away for the weekend.

Anyway, in the past we basically give out tax credits to businesses who create new jobs, right? But what about new businesses that don't make any money? Giving out credits to them really accomplishes nothing because they don't pay taxes. This bill aims to allow them to cash in the credits and use them towards building their business as they create jobs. I also want this to apply to green jobs because that is still has untapped potential in our country.

The second part is a business loan program with favorable interest rates. I'll be honest and say the $50 billion was a random number. I am open to changing that to something different, whether it be higher or lower.

So you are saying these tax credits are refundable and the other ones weren't?

[Fmr. Pres. Duke]

Sorry, I was away for the weekend.

Anyway, in the past we basically give out tax credits to businesses who create new jobs, right? But what about new businesses that don't make any money? Giving out credits to them really accomplishes nothing because they don't pay taxes. This bill aims to allow them to cash in the credits and use them towards building their business as they create jobs. I also want this to apply to green jobs because that is still has untapped potential in our country.

The second part is a business loan program with favorable interest rates. I'll be honest and say the $50 billion was a random number. I am open to changing that to something different, whether it be higher or lower.

So you are saying these tax credits are refundable and the other ones weren't?

As far as I know, typical tax credits are redeemable when you pay the tax. If a company isn't making any money, they are not paying taxes and thus cannot take advantage of the credit. Here, I am allowing these new companies to convert the credit into cash and reap the benefits now. Tax credits for start up businesses making no money give them no help at all.

[TNF]

Aye

[bore]

Nay

[H.E. VOLODYMYR ZELENKSYY]

Abstain.

[Southern Senator North Carolina Yankee]

One vote short of this amendment failing. Time expires in two days.

[DC Al Fine]

Nay

[Cincinnatus]

Vote on Amendment 60:41 by TNF:

Aye (1): TNF
Nay (6):  DC al Fine, bore, Lumine, Yankee, Tyrion, and shua
Abstain (1): Alfred

Didn't Vote (2):  Goldwater, and Talleyrand

The amendment has been rejected.

[Talleyrand]

NAY FTR

[🐒Gods of Prosperity🔱🐲💸]

Sorry, I was away for the weekend.

Anyway, in the past we basically give out tax credits to businesses who create new jobs, right? But what about new businesses that don't make any money? Giving out credits to them really accomplishes nothing because they don't pay taxes. This bill aims to allow them to cash in the credits and use them towards building their business as they create jobs. I also want this to apply to green jobs because that is still has untapped potential in our country.

The second part is a business loan program with favorable interest rates. I'll be honest and say the $50 billion was a random number. I am open to changing that to something different, whether it be higher or lower.

So you are saying these tax credits are refundable and the other ones weren't?

As far as I know, typical tax credits are redeemable when you pay the tax. If a company isn't making any money, they are not paying taxes and thus cannot take advantage of the credit. Here, I am allowing these new companies to convert the credit into cash and reap the benefits now. Tax credits for start up businesses making no money give them no help at all.

I see - though I believe if they file for taxes, they can receive a tax credit as long as it is a refundable tax credit even if they do not pay any taxes.  So is this going to be in addition to the existing tax credit, so that a business can claim both?

[TNF]

You must be logged in to read this quote.