On the heels of a federal tax plan that provides tax breaks to the wealthy, foreign investors and profitable corporations, President Trump has released a budget that will make it more difficult for people to get back to work and strengthen their quality of life and ensure thriving communities.
It is unlikely that North Carolina will be able to absorb these federal cuts and, in so doing, ensure that North Carolinians aren’t hurt by them.
North Carolina has scheduled another $900 million in tax cuts to begin on Jan. 1, 2019, and already has identified the need to prioritize class-size reductions, pre-Kindergarten for 4-year-olds, and ensure seniors have health care and food, among others. Additional needs generated by the failure of the President and Congress to truly connect people to opportunity will not be met with resources under the current tax code.
Here are just three ways in which the President’s budget will push costs to the states: Read more