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Expert responds to regressive House tax plan

Alexandra Sirota, Director of the North Carolina Budget and Tax Center and the state’s leading independent tax policy expert issued the following brief statement this morning after the House Finance Committee debated and approved legislation to overhaul North Carolina’s tax code:

“This tax plan will provide the wealthiest North Carolinians a tax cut while middle-class and low-income taxpayers pay more.

The only amendment accepted makes things worse — adding $525 million to the price tag and bringing the revenue loss each year to nearly a $1 billion.  Without this vital revenue, North Carolina can’t  make needed investments in our economy, our children’s education, the health of our seniors and the safety of our communities.”  

Click here for a fact sheet with more information on the legislation (HB 998).

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