July 30, 2021

North Carolina Policy Watch: NC’s Tax Code Reinforces Racial Exclusion; Senate’s Proposed Budget Would Make Matters Worse

ITEP Work in Action

When one applies a unique tool developed by the Institute on Taxation and Economic Policy to assess the racial and ethnic impact of the budget proposal approved by the state Senate in June (SB 105), it becomes clear that the proposed income tax reductions will worsen the state’s exclusionary tax code. This analysis should serve as a cautionary note for House budget writers, as well as the Governor, regarding the disproportionate harm that would result from the Senate tax plan and the greater cost to us all of growing a more unequal society.

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