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

[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.

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?

What existing tax credits do we have in place now? These only apply to a specific type of job (new businesses or green jobs), so maybe we can have this replace whatever is in place now for those type of jobs.

[Cincinnatus]

Senator, we've already reduced the work week in Atlasia, in addition to an enormous increase in the minimum wage.  This amendment is an attempt to change the entire purpose of this legislation. 

[TNF]

Senator, we've already reduced the work week in Atlasia, in addition to an enormous increase in the minimum wage. This amendment is an attempt to change the entire purpose of this legislation. 

Of course it is. If we really want to put people to work, we should do so by reducing the hours of work and thus creating more jobs without expanding meaningless toil, instead reducing the amount of people subject to meaningless toil (as reducing working hours will definitely lead to increased investment in automation, which will eliminate the worst, most mindless jobs) and expanding free time, all in one fell swoop. I do not want to subsidize the growth of wage labor anymore than I would wish to subsidize the growth of slavery, because I view the two as one in the same.

[🐒Gods of Prosperity🔱🐲💸]

What existing tax credits do we have in place now? These only apply to a specific type of job (new businesses or green jobs), so maybe we can have this replace whatever is in place now for those type of jobs.

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

edit: yep.

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also I'm sure we have had tax credits specifically for green jobs, though I don't remember off hand what they are.

[Fmr. Pres. Duke]

We can strike the green job portion to this bill if we already hand out credits for that. The main gist of the first part is to allow new businesses to convert their credits to cash. Under the old laws, they could not do that until they were actually making money, which, for new businesses, could take a while.

That's my understanding of things at least. I forgot we included a tax credit for new jobs in the corporate tax reform bill.

[Southern Senator North Carolina Yankee]

Hostile since the administration seems to oppose it.

[Fmr. Pres. Duke]

It changes the entire flavor of this bill! From chocolate to vanilla. I am not drinking this afternoon just so I can watch this go up in flames!

[Cincinnatus]

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

[Lumine]

Nay.

[Southern Senator North Carolina Yankee]

NAY

[Southern Senator North Carolina Yankee]

That is amendment  60:51 by TNF I think.

[🐒Gods of Prosperity🔱🐲💸]

Nay

[TNF]

AYE

[President Tyrion]

Nay

[bore]

Nay

[H.E. VOLODYMYR ZELENKSYY]

Nay.

[Cincinnatus]

Vote on Amendment 60:51 by TNF:

Aye (1): TNF
Nay (6): Alfred, bore, Tyrion, shua, Yankee, and Lumine
Abstain (0):

Didn't Vote (3):  Goldwater, Talleyrand, and DC al Fine

The amendment has been rejected.

[Fmr. Pres. Duke]

If we're worried that this may compound with the incentives we included in the tax reform bill, perhaps we can clarify that it does not somehow. The tax reform bill applied to all businesses and were not cash convertible, while these are cash convertible and only apply to new businesses/green jobs.

[Southern Senator North Carolina Yankee]

What is next here?

[🐒Gods of Prosperity🔱🐲💸]

how about this?

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Sponsor: Senator Yankee
Slot: Emergency
[/quote]

[Fmr. Pres. Duke]

I'm fine with those changes. It's friendly in my eyes.

[🐒Gods of Prosperity🔱🐲💸]

I'm offering it as an amendment then.

[Southern Senator North Carolina Yankee]

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Sponsor Feedback: Friendly
Status: Senators have 24 hours to object.

[🐒Gods of Prosperity🔱🐲💸]

you missed a couple words after "eligible" there Yankee.

[TNF]

I object to this stunning example of corporate welfare.