Public News Service: North Carolina Taxpayers Report Leaner Returns in 2015
media mention“The key thing about a tax system is it absolutely has to be adequate to meet the core public service commitments that we need to be making as a state,” says Sirota. “But the way in which we raise revenue is really critical.”
Sirota says taxpayers making less than $67,000 a year – about 80 percent of the state – will see their taxes increase under the tax plan. Even with that, the Institute on Taxation and Economic Policy estimates state tax revenue will be down by about $1 billion by the end of this year because of an overall reduction in corporate taxes.