Public Statement before the House Finance Committee
House Bill 101 – Repeal of Estate Tax
February 20, 2013
Thank you Mr. Chairman and members of the House Finance Committee
My name is Cedric Johnson and I serve as a public policy analyst with the NC Budget and Tax Center. Since its founding, the Budget and Tax Center has advocated for a state tax system that meets the principles of adequacy, equity and stability, and that allows the state to make adequate investments in public structures that provide the foundation for economic growth.
I stand before the committee today in opposition to House Bill 101. Repealing the estate tax will not address the problems with our tax system: that it is upside-down and inadequate to support the foundation of economic growth. And repealing the estate tax will not improve economic outcomes.