Uncategorized

Committee moves to repeal estate tax, as House ditches tax credit for low-wage workers (video)

Members of the House Finance Committee okayed legislation Wednesday to repeal North Carolina’s estate tax.

Republicans argued the bill would help family farmers and attract wealthy retirees to the state. Rep. Jeff Collins suggested the estate tax was punishing those who were successful.

Several Democrats pointed out the irony that House Bill 101 was being advanced as the NC House was preparing to end a state tax credit for low-income working families:

“I cannot support repealing a tax that would benefit 123 people, when we have effectively raised taxes on almost a million people in this state,”said Rep. Susi Hamilton. “I think the timing of this is extremely bad. I think it makes us look like a body that has no interest in helping families and helping those who are most needy.”

Repealing the estate tax would cost the North Carolina about $52 million next year.

Dare County Rep. Paul Tine, one of three Democrats to vote for bill, questioned the wisdom of lawmakers in  tackling tax reform piecemeal picking “winners and losers on each tax.”

The finance committee meeting was followed by a House session that saw legislators adopt changes to North Carolina’s tax code, cutting the Earned Income Tax Credit for moderate- and low-income families.

To hear a portion of Wednesday’s committee debate on repealing the estate tax, click below:

Check Also

Cooper blasts latest Republican effort to repeal the Affordable Care Act

Add Governor Roy Cooper to the list of ...

Top Stories from NCPW

  • News
  • Commentary

This story has been updated with comments from Jim Womack, who did not respond earlier to questions. [...]

For the 18 months, Gary Brown has been traveling through northeastern North Carolina like an itinera [...]

It will be at least another month before state Superintendent Mark Johnson can take over at the helm [...]

Eric Hall, in the midst of a rainy drive to rural Robeson County to pitch North Carolina’s ambitious [...]

5---number of days since Senators Bill Cassidy and Lindsey Graham unveiled a new proposal to repeal [...]

The post The stench of hate speech appeared first on NC Policy Watch. [...]

When a Navy recruiter visited his high school, Carlos was among those students eager to sign up. In [...]

Website with ties to Civitas Institute promotes anti-Semitic attack on Attorney General Stein There [...]

Featured | Special Projects

NC Budget 2017
The maze of the NC Budget is complex. Follow the stories to follow the money.
Read more


NC Redistricting 2017
New map, new districts, new lawmakers. Here’s what you need to know about gerrymandering in NC.
Read more