North Carolina Budget and Tax Center: The Estimated Impact of the Senate’s Proposed Modernization Plan

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 measures should be taken to improve fairness.

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