ITEP Work in Action
North Carolina Justice Center: First Comprehensive Tax Legislation Would Not Protect Low- and Middle-Income Taxpayers from Tax Increases
April 3, 2013
80 percent of taxpayers would see slightly higher taxes under the first comprehensive tax legislation introduced this legislative session, while the top 1 percent of earners would get a tax cut. The proposal threatens to erode resources for schools, health care and other services North Carolina needs to be economically competitive. The proposal (Senate Bill […]
North Carolina Jusice Center: North Carolina’s Business Tax Deduction – Who Benefits?
March 27, 2013
In the 2011 budget, the North Carolina General Assembly created a deduction for the first $50,000 in non-passive income for businesses filing through the personal income tax. Proponents of the temporary tax break intended it to provide tax relief to small businesses and support job creation. However, in recent months there has been considerable debate […]
North Carolina Justice Center: A “Laffable” Plan for Tax Reform
January 23, 2013
EXECUTIVE SUMMARY This tax plan, if implemented, will provide the wealthiest 20 percent of taxpayers a significant tax cut, which would be paid for by increasing taxes on 60 percent of the state’s taxpayers, primarily middle- and low-income taxpayers. The plan eliminates the personal income, corporate income and franchise taxes, which, combined, generate $12 billion […]
North Carolina Budget and Tax Center: Budget and Tax Center Releases Alternative Revenue Plan
January 14, 2013
Read the Original Full Power Point Presentation
North Carolina Budget and Tax Center: The House Budget: Deteriorating Revenue Picture Forces Tough Decisions
January 14, 2013
Members of the House of Representatives faced a daunting task when they began to craft their proposed two-year budget. In the weeks after the Senate voted on its budget, the revenue forecast for fiscal year 2009-10 (FY09-10) dropped by $1.35 billion. The House’s options for balancing the budget dropped further when Governor Beverly Perdue tapped […]
North Carolina Budget and Tax Center: The Estimated Impact of the Senate’s Proposed Modernization Plan
January 14, 2013
The Senate Finance Committee’s proposed tax modernization plan would require an additional 0.3% of income ($32 average annually) from the lowestincome earners, 0.1% of income ($32 average annually) from middle-income taxpayers and 0.1% of income ($958 average annually) from the highest 1% of income-earners. The plan would improve stability and long-term revenue adequacy, but additional […]
North Carolina Budget and Tax Center: The Dead Tax Plan: Just How Regressive Would it Have Been?
January 14, 2013
The proposed $1 billion compromise tax plan released the week of July 20th featured a 1-cent sales tax increase and 2% personal income tax surcharge. This plan, if enacted, would have required three times more, as a share of income, of the state’s lowest-income families than of the state’s top 1% of income-earners. Read the […]
North Carolina Justice Center: THE FUTURE IS NOW- A Plan to Modernize North Carolina’s Revenue System
January 14, 2013
A modern revenue system should improve long-term adequacy, minimize volatility and ensure equity so that the state can invest in North Carolina’s shared prosperity. Read the Full Report (PDF)
NC Policy Watch: The Devil’s in the Details- Health and Human Services
January 14, 2013
Legislative leaders announced their intent to cut $592 million from the state’s health and human services budget next year, which is $372 million more than the $212 million in FY11-12 cuts proposed in the Governor’s budget. To put the legislature’s proposal in perspective, the state’s $4.9 billion health and human services budget is second only […]
North Carolina Justice Center: A Plan to Modernize North Carolina’s Revenue System
January 14, 2013
State leaders must create a budget that meets the population’s needs and allows them to make the investments that will prepare North Carolina for future prosperity. But these goals are made more difficult to achieve by the state’s deteriorated revenue system, which even in the best of times cannot produce the resources required for education, […]
North Carolina Justice Center: Gas Tax Cap Would Delay Needed Repairs and Weaken North Carolina’s Transportation Budget
December 17, 2012
“Key Findings: • North Carolina’s transportation budget faces a funding gap. Since the Great Recession, North Carolina has not experienced gradual increases in revenue collections from the gas tax as generally experienced in pre-recession years. The purchasing power of construction and maintenance dollars has also eroded. • Despite revenue shortfalls for transportation projects, the price-based […]
North Carolina Justice Center: Improving the Sales Tax – A Critical Step to a Modern Revenue System
December 17, 2012
EXECUTIVE SUMMARY The state sales tax in North Carolina represents nearly 30 percent of the state’s total revenue each year. In 2011, the states sales tax generated $5.9 billion in state revenue. The sales tax is regressive, which means that it asks more from those with the least ability to pay. Lower-income families spend a […]
North Carolina Justice Center: WHO PAYS TAXES?- The Poor, the Rich, and Everyone In Between
December 17, 2012
“KEY FINDINGS Every household pays taxes. Even the poorest fifth of American households paid an average of one-sixth (16 percent) of their total income in federal, state, and local taxes in 2009. The wealthiest 1 percent of households in the country, with annual incomes averaging more than $1.3 million, paid less than one-third (30.7 percent) […]
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