North Carolina Budget & Tax Center: Faced with pausing tax cuts for the rich or lowering state spending, NC Senate budget sides with the wealthy few

If there was any doubt in North Carolinians’ minds, this budget proposal makes crystal clear the extreme measures the Senate is willing to take to deliver tax cuts for the rich. They will risk recurring budget deficits. They will risk an inability to protect North Carolinians from federal Medicaid and food assistance cuts. To deliver these tax cuts, they will cut funding for the state’s public K-12 students and community college students. And they will cut the personal income tax rate more deeply than ever before, costing the state billions more in lost revenue on top of previously scheduled cuts and creating even greater reliance upon a state sales tax and local property taxes that hit low-income North Carolinians the hardest.

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