In case you haven’t heard, the North Carolina Senate has proposed a tax bill that they claim cuts taxes by $1 billion. They also claim that these tax cuts are mostly going to help middle-income folks out. These claims are both false.
The billion dollar claim is a rounding error that is nearly 20 percent off the mark.
Not to mention, lawmakers also want to permanently change our state constitution so we can’t change the income tax again in the future. That’s just locking in another giveaway to millionaires that cuts off a vital source of revenue.
These choices would mean we won’t have enough to pay for the stuff that makes North Carolina great. Like roads. And schools. And protecting our environment. What happens the next time we have a big storm like Hurricane Matthew that we need to rebuild from?
If something unexpected happens, lawmakers will have to raise sales or property taxes, which affects the middle class the most.
And why are we proposing more tax cuts? It’s not like it’s helping our job growth. Thirty-four counties in North Carolina have lost jobs since the start of the recovery in 2009. Plus, North Carolina already has one of the lowest tax rates in the country.
And with our federal funding very likely getting cut under Trump’s budget, now is not the time to be giving up revenue. (The federal government has paid 66% of our Medicaid costs for years, for example.)
Tell your lawmakers to vote no on a tax cut bill that mostly serves the top 20% in North Carolina.