Members of the House of Representatives are poised to ratify the 2024 Budget today--a development that is being greeted with reports of the discovery of new revenue sources to augment the national budget.
The Joint Budget Committee of the House of Representatives and the Senate last week revealed that they have discovered additional revenue of about US$51 million.
"Honorable Speaker, Deputy Speaker, Distinguished colleagues, we crave your indulgence to approve this Fiscal Year 2024 National Budget of US$743,859,827.00," the House's Budget Committee said."The Budget exchange rate is L$211 to US$1.00." Other measures:"There shall be a revenue sharing of 50% - 50% between the Central Government and the Counties for all excess budgetary revenue collected from Real Property taxes; 5. The Ministry of Labor and Liberia Immigration Services shall retain 5% of revenue generated for the enhancement of digital tracking and service systems to cover the cost of enforcement, to ensure efficiency in their services; 6.
Members of the House of Representatives have voted that a copy of the proposed 2024 be submitted to each lawmaker by Friday for review and legislative action, hopefully on Monday during a special session.
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