North Carolina Budget & Tax Center: North Carolina’s Tax Shift Saga Continues
ITEP Work in ActionNorth Carolina’s House leadership has thrown its hat into the tax shift ring with a plan that would increase the tax load on middle- and low income tax-payers while providing the wealthy and profitable corporations a tax cut. The House plan would convert North Carolina’s personal income tax to a flat rate, while making North Carolina more reliant on the sales tax and raising taxes on the majority of North Carolinians. Such a proposal would weaken North Carolina’s tax system and the broader economy by asking more from taxpayers who are already struggling in the current economy and by undermining the long-term ability of the state to maintain the building blocks of a strong economy, like pre-K-12 schools and higher education.