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

Last week’s Top Five on NC Policy Watch

1. An offensive, belligerent and vindictive display in ...

Top Stories from NCPW

  • News
  • Commentary

Harold Brubaker, the former Republican House Speaker turned powerful lobbyist, tried to ram through [...]

A bill to limit local regulation of small cell towers is moving to a full House vote, despite concer [...]

The U.S. Supreme Court ruled Monday that the North Carolina GOP drew unconstitutionally racially ger [...]

The most shameful thing about the disastrous budget passed by the Senate two weeks ago is not the vi [...]

Court setbacks, public opinion, progressive activism and Trump bode ill for NC conservatives Profess [...]

So, the question as always comes down to one of vision. The elected chieftains who decide how much m [...]

2.8 billion---amount in dollars of needs in communities across the state for rebuilding efforts from [...]

Featured | Special Projects

Trump + North Carolina
In dozens of vitally important areas, policy decisions of the Trump administration are dramatically affecting and altering the lives of North Carolinians. This growing collection of stories summarizes and critiques many of the most important decisions and their impacts.
Read more


HB2 - The continuing controversy
Policy Watch’s comprehensive coverage of North Carolina’s sweeping anti-LGBT law.
Read more