North Carolina Policy Watch: NC House Tax Plan Isn’t Good for Our State (And These Graphs Explain Why This Is the Case)ITEP Work in Action
The House tax plan would deliver the greatest share of the net tax cut to the richest North Carolinians. Fifty-six percent of the net tax cut would go to the richest 20 percent in North Carolina. During the House Finance debate, proponents of the tax plan suggested that North Carolinians with poverty-level incomes would see a more than $200 income tax cut, but a more complete analysis of the total state and local taxes tells a different story. Just a quarter of those North Carolinians with the lowest income in the state would receive an income tax cut, and the poorest 20 percent of the income distribution would receive just 2 percent of the total tax cuts in the package.