FT 13-01: Commonwealth Budget for FY2020 (Debating)

[AustralianSwingVoter]

Objection

Withdrawing this because I forgot our budget term is the Calendar Year (rather than the financial year) so I forgot that we go into shutdown in four days time.

No point withdrawing the objection actually, given all 5 members have voted anyway.

[Unconditional Surrender Truman]

With four members in favor and one opposed, the motion carries; we will now move toward a vote. Members will vote Aye, Nay, or abstain. Voting will last 48 hours or until all members have voted.


Aye!

[AustralianSwingVoter]

Aye

And I would note that the Honourable First Minister may have been mildly hyperbolic in his fears of this cloture vote threatening a government shutdown, given we have resolved the matter in under 2 hours.

[PSOL]

Aye

[KoopaDaQuick 🇵🇸]

Aye

[Roblox]

Aye

[Unconditional Surrender Truman]

With five members in favor and none opposed, and with two days to spare, the resolution carries!

COMMONWEALTH BUDGET
for the fiscal year of 2020

I. Revenues.
☞   Income Tax: $141,458,440,106$0K – $125K (0%): $0

$125 – $200K (5%): $4,544,572,163

$200K – $1M (15%): $51,494,832,936

$1M – $10M (30%): $45,459,789,567

$10M – $100M (45%): $30,242,234,007

$100M+ (60%): $9,717,011,433
☞   Corporate Taxes: $222,721,286,871$0 – 100K (0%):  $0
         
$100K – 1M (20%): $1,052,287,645   
         
$1M – 10M (40%): $7,087,226,512
               
$10M+ (60%): $214,581,772,714
☞   Excise Taxes: $30,457,309,589Alcohol (15%): $13,087,791,871

Gas & Diesel ($0.30/gallon): $14,653,207,484

Tobacco (15%): $2,716,310,234
☞   Misc. Taxes and Penalties: $64,747,757,223Fremont Carbon Taxation Act: $31,011,738,620

Green Vehicle Promotion Act § 2(ii): $3,602,574,479

Royalties Act:
Coal: $2,877,687,513
Gas: $1,500,722,750
Oil: $11,355,570,000

Gaming Tax: $5,100,495,700

Estate Tax (50%): $5,852,884,365

Drug Tax: $3,446,083,796

Lodging Facility Sales and Use Tax: $5,091,240,579.71
☞   FY2019 Surplus: $181,997,845,008


II. Expenditures.
☞   Tax Credits: $1,660,474,443Green Vehicle Promotion Act §2(i): $1,236,935,443

Teacher's Tax Credit: $423,539,000
☞   Mandatory Spending: $206,060,590,457 (List A)
☞   Discretionary Spending: $415,502,000,000Education: $195,282,000,000

Health and Human Services: $130,676,000,000

Justice: $36,491,000,000

Home Office: $53,053,000,000


TOTAL REVENUES: $641,382,638,797
TOTAL EXPENDITURES: $623,223,064,900
TOTAL SURPLUS: $18,159,573,897

done at the City of Denver, this day
29 December 2019