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November-February Northeast Budget FY2013
IN THE NORTHEAST ASSEMBLY
A RESOLUTION
Establishing the budget for the Northeast Government lasting from November 2013 until February 2014
Resolved by the Northeast Assembly convened,
$29.00 billion ..... Elementary, Secondary & Vocational education
$28.00 billion ….. Northeastern Higher Education Act
$36.783 billion - Economic development $15.00 billion ...... Community development
$15.00 billion ...... Area and regional development
$6.783 billion ...... Anti-Homelessness Act
$65.5 billion - Transportation$15.00 billion ..... Highways and highway safety
$15.00 billion ...... Mass transit
$25 billion ...... Railroads
$1.50 billion ..... Air Transportation
$1.00 billion ...... Water transportation
$1.00 billion ...... Other transportation
$7.00 billion ..... Non-Highway Roads
$25 billion - Public safety$26.025 billion - Health services $0.025 billion …..Healthy Northeast Is A Strong Northeast Act
$4.00 billion ...... STEM Cell Research Act
$3.00 billion ...... Substance abuse and mental health services
$2.00 billion ....... Disease control, public health and bioterrorism
$12.00 billion ..... Health research and training
$3.00 billion ...... Food safety and occupational health and safety
$2.00 billion ..... Other health care services
$15 billion - Tax expenditures$7 billion - Environment & energy$2.00 Billion ...... Loans to be granted to energy companies that have a responsible environmental track record, are seriously attempting to develop clean energy alternatives, push for energy efficiency and/or have an approved plan to do so.
$2.00 Billion ...... Fund for alternative energy
$2.00 Billion ...... Updating the Northeast's current energy infrastructure
$1.00 Billion ...... Refitting all government buildings to run on clean energy
$3 billion - Direct aid & incentives to municipalities$2 billion - Government administration===============================
TOTAL EXPENDITURES - $ 239.308 billion===============================
Disaster Relief Fund20% of all budget surpluses shall automatically be allocated to a Disaster Relief Fund which may be spent during emergencies at the discretion of the Governor via executive order.
PROPOSED TAXESIncome tax0.0% $0 - $24,999
($0.000 B)0.13% $25,000 - $49,9999
($2.070 B)0.50% $50,000 - $99,999
($4.502 B)2.00% $100,000 - $249,999
($7.769)5.0% $250,000 - $999,999
($10.416 B)7.5% $1,000,000 +
($5.560 B)Rates remain the same for married couples filing jointly, but brackets are doubled.
Sales tax1.0%
($15.477 B)Property tax$35 per mil on assessed value of unimproved land
($133.508 B)Excise TaxesGas: 68 cents per gallon
($55.466 B)Diesel: $1 per gallon
($14.407 B)New automobile purchase tax (by curb weight): $500 per thousand kilograms
($0.23959 B)Tanning: 33 and 1/3 cents per minute [tax already exists per Northeast Healthy Skin Act]
($0.19899 B)Endowment Tax – 1% tax on the endowment of private universities to finance the Northeastern Higher Education Act –
($2.00 B)===============================
TOTAL REVENUES - $251.614 ===============================
PROJECTED SURPLUS - $12.306 B==============================
RIDERSThe Education Effort Reward Act is hereby repealed as it was made obsolete by the Northeastern Higher Education Act.
