Re-structuring the debt ACT

Proposed by Optimates Fasces · Passed 3 Oct 2016

✅ Passed

Rationale

Magna Taura is burdened by debt, making financial reform absolutely essential to restore balance and halt the squandering of vital resources. We, the Optimates, seek to contribute to the state on behalf of the people, by the people, and with the people. We are well aware that taxes are excellent mechanisms for resolving financial problems; however, our great nation and its people cannot afford, nor do they deserve, further increases. Taxes will not be raised for at least the next three years, and we will ease the burden if the economy is freed from its debt. The debt left by the tyrants must be erased from the ashes.

Figures show the previous budget where they changed the new value.

Annual Taxes

Earning band	Tax rate
Personal income tax: Low earners	25% 22%
Personal income tax: Medium earners	25% 26%
Personal income tax: High earners	25% 26%
Personal income tax: Elite earners	25% 28%

Annual Spending

Category	$ per capita	Peers	% of budget	Amount
Social Welfare	$1,144 $1,087	$1,045	8.0% 7.7%	$100.2bn $95.2bn
Retirement	$4,003 $3,881	$1,890	28.0% 27.6%	$350.7bn $340.0bn
Healthcare	$2,860 $2,692	$2,397	20.0% 19.1%	$250.5bn $235.8bn
Education	$1,716	$1,649	12.0% 12.2%	$150.3bn
Housing	$572 $913	$603	4.0% 6.5%	$50.1bn $80.0bn
Justice, Police & Internal Security	$715 $731	$682	5.0% 5.2%	$62.6bn $64.0bn
Defence	$1,001	$827	7.0% 7.1%	$87.7bn
Environment & Climate	$285 $137	$235	2.0% 1.0%	$25.0bn $12.0bn
Business Support	$429	$592	3.0% 3.1%	$37.6bn
Arts, Culture & Media	$285	$255	2.0%	$25.0bn
Foreign Aid	$285	$70	2.0%	$25.0bn
Roads & Highways	$358 $322	$385	2.5% 2.3%	$31.3bn $28.2bn
Public Transport & Rail	$286 $258	$305	2.0% 1.8%	$25.1bn $22.6bn
Energy Infrastructure	$215 $193	$232	1.5% 1.4%	$18.8bn $16.9bn
Ports & Airports	$143 $129	$157	1.0% 0.9%	$12.5bn $11.3bn
Total			100.0%	$1,252.4bn $1,231.6bn

Vote tally

Senatus iuris

Passed

150Yes 0No 0Not voted 150 seats

For: 150 / 150 filled seats (100.0%) — needs 50.0%

Against: 0 · Abstained: 0 · Not voted: 0

Party	Seats	Vote	Reason
Frons Munita	83	Not voted
Junta Militar De G. Boné	28	Not voted
National Workers Core	0	Yes	No reason given
Optimates Fasces Proposer	133	Yes	No reason given
Te Deum Laudamus	17	Yes	No reason given

Curia plebiscitaria

Passed

187Yes 0No 163Not voted 350 seats

For: 187 / 350 filled seats (53.4%) — needs 50.0%

Against: 0 · Abstained: 0 · Not voted: 163

Party	Seats	Vote	Reason
Frons Munita	167	Not voted
Junta Militar De G. Boné	69	Not voted
National Workers Core	14	Yes	No reason given
Optimates Fasces Proposer	141	Yes	No reason given
Te Deum Laudamus	32	Yes	No reason given

Voting record

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Current budget Budget history