NC Budget and Tax Center

Statement on Senate proposal to further cut taxes

Despite the clear need to make investments that will put North Carolina on sounder economic footing, the Senate is proposing another round of tax cuts that will hinder the state’s progress, including more income tax cuts and tax breaks for certain businesses. This is a strategy that has failed in many other states.

Now is a critical moment in the economic recovery, and we must leverage this moment to reposition the state’s economy to work for everyone. But this requires that lawmakers raise enough revenues to ensure a quality education for every child, support an efficient and impartial judicial system and provide for the health and safety of all North Carolinians.

If the Senate continues to pursue tax cuts above reinvestment, it will compromise our quality of life and competitiveness now and in the future.

One Comment


  1. LayintheSmakDown

    June 11, 2015 at 10:17 am

    This is exactly what NC needs in confiscating less of people’s hard earned money. We “invest” in the people of NC not the government of NC and it works out a lot better. And get this the tired old screeching point of the illiberal leftists of “tax cuts for the wealthy” is even more obsolete with this tax cut as a good deal of it goes to the following:

    The Senate has insured that lower-income workers will see a proportionally larger cut in income taxes by increasing the standard deduction in 2016 by almost 17 percent ($1,250-$2,500, depending on filing status) and increasing it yearly through 2020. They also reinstated several itemized deductions to follow federal tax laws. These changes will tend to most help lower-income workers and retirees.

    The good times are still rolling in NC where all got a cut from the 2013 reform, and and even more generous cut now!

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