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Posted by : Wednesday, June 19, 2013In Uncategorized

It’s hard to know what to make of the news trickling out of the back rooms where House and Senate leaders are working on a tax cut deal. And yes, it’s about cutting taxes now, not reforming the tax code.

House Speaker Thom Tillis told the News & Observer that the two sides must “breach a philosophical divide,” which doesn’t sound like they are close to an agreement.

But the last line of a story by NC Capitol at WRAL.com says that Tillis and Senate President Pro Tem Phil Berger believe a deal could be done this week. That’s not much time for philosophical divide breaching.

There are also whispers in the legislative halls that some folks are pushing for a bare bones budget deal now and a special session on taxes in a few weeks.

Posted by : Tuesday, June 18, 2013 4 Comments In Falling Behind in NC, NC Budget and Tax Center

The North Carolina House approved a budget last week that would chart the wrong path for North Carolina, according to a new brief released by the N.C. Budget & Tax Center. Similar to their colleagues in the Senate, the House leadership was intent on including tax cuts for the wealthy and profitable corporations in their budget at the expense of everyone else. The result is a budget that falls far short of meeting the needs of children, working families and communities across major budget areas.

In the House tax and budget plan, these tax cuts will cost $528.6 million in lost revenue over the next two years, with the cost ballooning to $651.1 million annually once the plan is fully implemented in the 2018 fiscal year. These figures represent the net tax changes of the House tax plan plus the repeal of the estate tax. Even worse, 95 percent of taxpayers, on average, would see their taxes go up in addition to cuts in vital public services under the House’s formula for “prosperity.” Read More

Posted by : Friday, June 14, 2013In Uncategorized

greenwayLast week I wrote about the large and immediate cut to pedestrian and bike greenway funding in the NC Senate’s version of the budget.  Well that budget cut is still in the final version.  It’s delayed for some current projects, but puts NC on the road (not bikeway) to funding elimination.  Some folks who have contacted their Senators are getting the usual attempt-to-confuse-the-issue answers from their representatives.  The particular line is the old unpopular budget cutter’s saw, “flexibility.”  As in:  ”Oh, we are giving cities flexibility to fund greenways out of other pots of money, so this really isn’t a cut that hurts.”  Well, there is a cut, it is to greenways, and it will mean less money for building stuff other than roads.

Don’t believe me?  Look at NC Senator Apodaca’s quote in Bruce Siceloff’s N+O story yesterday.  I’d say it about sums it up:

Read More

Posted by : Thursday, June 13, 2013In NC Budget and Tax Center

On the Senate Tax Plan receiving tentative approval:

The Senate tax plan will give tax cuts to the wealthy and profitable corporations while everyone else pays the price.

The loss of revenue for public education, the health and well-being of seniors and children, and our communities will harm everyday North Carolinians and the economy’s long-term health. Some North Carolinians will even experience income tax increases, including some seniors and families.

North Carolinians want a tax plan that won’t risk the things that have made our state great, especially not on a strategy that has been a proven failure in other states.

On the House Budget passing third reading:

Unfortunately the House is following path similar as the Senate by writing a budget that prioritizes tax cuts that primarily benefit the wealthiest instead of adequately funding our vital public investments. Our children, seniors and everyday families will suffer under this approach, and it will hurt our economy. We need an educated and trained workforce for a 21st century economy, and underfunding our public school system, community colleges, and universities takes us in the wrong direction.

 

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