February 22, 2017

North Carolina Budget and Tax Center: The Road to Nowhere Good for North Carolina

ITEP Work in Action

Tax changes passed in the 2016 legislative session reduced the income tax rate and increased reliance on the sales tax. This continued flawed approach to taxation that policymakers have followed since 2013 has proven disastrous to other states’ fiscal and economic outlook. Such an approach delivers the greatest reduction in the tax load to the wealthy while losing opportunities to make smart investments that can improve the quality of life for families and strengthen the vitality of communities. As such, it does not address North Carolina’s economic challenges, but instead undercuts the foundations of what have proven to be economy-boosting public investments.

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