- The Progressive Pulse - http://pulse.ncpolicywatch.org -

Expert responds to regressive House tax plan

Alexandra Sirota, Director of the North Carolina Budget and Tax Center [1] 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 [2]:

“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). [3]