tax reform

Biden signs into law Democrats’ wide-ranging climate change, health care and tax bill

BY: - August 17, 2022

WASHINGTON — President Joe Biden signed his party’s signature climate, health care and tax package into law Tuesday, capping off more than a year of tumultuous negotiations that saw his original proposal to Congress slimmed down considerably. Flanked by a handful of Democrats, including Senate Majority Leader Chuck Schumer, House Majority Whip Jim Clyburn and West Virginia Sen. Joe Manchin III, Biden sharply contrasted his outlook for the country with that of Republicans, who unanimously voted against the package. 

U.S. Senate Democrats’ climate, health and tax bill clears first hurdle to passage

BY: and - August 7, 2022

The U.S. Senate voted along party lines Saturday night to advance to debate on Democrats’ sweeping energy, health and taxes bill, clearing a major hurdle to passage. The 51-50 vote, with Vice President Kamala Harris breaking the tie, cleared the chamber to debate and vote on amendments to the measure and indicated that it had […]

In N.C., 42% of Trump’s proposed tax cuts would go to the few making more than $1 million

BY: - August 25, 2017

On July 27, the White House released a statement on Tax Reform that stated tax-writing committees in Congress would work this fall to “develop and draft legislation that would result in the first comprehensive tax reform in a generation.” The White House statement was blunt in stating “the American people have elected a President and […]

2017 legislative session convenes with glimpse of what’s to come; call for bipartisan effort among lawmakers

BY: and - January 11, 2017

The North Carolina Senate unanimously passed its rules Wednesday for the 2017 legislative session, including how it will consider confirming gubernatorial nominations or appointments. The rule does not state any sort of timeline for the process. For the first time in North Carolina history, the General Assembly passed a bill during one of the special […]

Getting by on less: North Carolinians see shift in taxes, state pay raises, homeownership (video)

BY: - March 9, 2015

Three must read stories from the weekend’s news paint a remarkable picture of the pocketbook changes many North Carolina families are facing these day. The News & Observer’s David Ranii writes that many North Carolinians are in for a rude awakening as they complete their state taxes this year. Reforms enacted by the NC General […]

Economic case for tax cuts rests on shoddy foundation

BY: - May 27, 2014

Tax cuts never live up to the extravagant promises of job creation and economic growth so often made by their supporters, and last year’s tax reductions are unlikely to turn out any differently. The most recent example is Kansas, which enacted massive tax cuts in 2011. Two years later the state has experienced slower job […]

Tax cuts still aren’t telling the story supporters want

BY: - April 17, 2014

At his Tax Day press conference, Governor McCrory repeated the often-heard claim that the effect of cutting taxes on the state’s economy speaks for itself. Last year’s tax cuts may be speaking, but they’re not telling the story its proponents hoped—for the very good reason that tax cuts are just a poor strategy for promoting […]

Safe and healthy communities help create attractive quality of life in North Carolina

BY: - February 17, 2014

North Carolina is known for having an appealing quality of life, with communities across the state offering a great place to raise a family and operate a business. Safe and healthy communities play an important role in contributing to this quality of life in what we North Carolinians call home. Decisions made by state leaders […]

Stein: Teacher raises a must, recent tax changes make it “a real challenge” (video)

BY: - January 22, 2014

Governor Pat McCrory made it clear Tuesday that North Carolina’s teachers would see a raise in 2014. What is less clear is just how large that raise will be and where the money will come from. Senator Josh Stein says there is no doubt that educators should be paid more, but he has concerns the […]

The truth about the tax plan hasn’t changed: Most families will pay more

BY: - January 16, 2014

If you dressed a wolf in sheep’s clothing, would you then believe it was a sheep? The leadership in the General Assembly and its allies hope you will. Proponents of the state’s new tax law are trying desperately to justify it, most recently by citing pennies in tax cuts for low- and middle-income North Carolina […]

N.C. lottery finds sales hook in new state income tax rate

BY: - January 3, 2014

The N.C. Education Lottery had an unusual sales pitch today, telling players that hitting it big in 2014 will mean less taxes and more winnings In a tweet sent out this afternoon, the official state lottery Twitter account pointed out that the state’s new flat 5.8 percent income tax, which eliminated a progressive tax structure […]

False claims regarding tax plan highlighted in media

BY: - January 2, 2014

Recent news reports highlight that not all taxpayers will benefit from the tax plan signed into law by Gov. McCrory last year. While disputed, this has been a major talking point for proponents of the tax plan – that all taxpayers will benefit from the income tax rate cuts. The General Assembly’s Fiscal Research Division […]