Sen. Mark Rudimch, chair of the Senate Committee on Ways and Means said members of the Senate are still in discussion on the format of the review.
“We will review the House version but we will no longer call all the government agencies to look into the budget,” Rudimch said.
Rudimch said this year it was the HOD’s turn to look into the budget first.
THE HOD has concluded the series of public hearings on the proposed Fiscal Year 2011 budget by stating that the House version will approve some of the recommended new taxes by the government.
Committee chair Del. Sechilil Eldebechel in an interview said that members of the committee are now putting together a committee report which is expected to be reported out this week.
President Johnson Toribiong’s financial package for FY 2011 proposes salary cuts for government officials and new form of taxes to raise additional revenues.
The proposal calls for a spending ceiling of $54.2 million, of which $36 million is derived from locally generated funds with the remaining $18.25 to come from Compact assistance, including the Compact Trust Fund.
Eldebechel earlier said that the committee members are considering the passage of the increase in hotel room tax, increase in import tax on foodstuffs and raise on taxes collected from earning $25,000 or more a year.
The president wants the salaries cut by 10 percent which will only be implemented for a year to save $195,000 in revenues.
Elbedechel earlier said that the Senate members stated that to expedite the budget process it will work closely with the House to ensure that both their versions will not have a big margin of difference.
