North Carolina
North Carolina Budget & Tax Center: NC Leaders Are Shirking Their Responsibilities To Our Children, Our State by Revisiting Leandro Lawsuit
November 17, 2023
The announcement that the NC Supreme Court will rehear the court case that affirmed children’s constitutional right to a sound, basic education is just another way in which North Carolina’s legislative leaders are attempting to rewrite the rules to further their agenda rather than the well-being of children. Read more.
North Carolina Budget & Tax Center: Tax Changes in NC Senate Budget Plan Benefit Richest, Worsen Racial Inequities
May 25, 2023
The NC Senate tax plan will double down on the path to zero income tax — keeping in place the elimination of the corporate income tax and reducing the personal income tax to 2.49 percent after 2029 — to benefit the very wealthy and profitable corporations. Read more.
North Carolina Budget & Tax Center: Missing the Mark for North Carolina
September 28, 2022
Inflation isn’t just a pocketbook problem, it’s a budget problem as well. Governments feel the pinch of gas prices climbing higher, food becoming more expensive, and increased competition from private sector employers as well as most of the impacts of inflation that affect consumers and businesses. Unfortunately, the 2022-23 budget allows inflation to undermine the […]
North Carolina Policy Watch: NC House Tax Plan Isn’t Good for Our State (And These Graphs Explain Why This Is the Case)
August 10, 2021
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 […]
North Carolina Policy Watch: NC’s Tax Code Reinforces Racial Exclusion; Senate’s Proposed Budget Would Make Matters Worse
July 30, 2021
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 […]
North Carolina Justice Center: Five Takeaways from the Senate’s Budget Proposal
June 23, 2021
The Senate’s budget plan would bring the state’s investments to a new low while committing the state to untold losses in the form of revenue reductions by eliminating income taxes for profitable corporations by 2028 and lowering the already flat (read: regressive) personal income tax rate. Read more
NC Policy Watch: NC needs to fix its tax code to secure a just recovery — for everyone
April 23, 2021
North Carolina’s current tax code asks the top to pay less as a share of their income than taxpayers with poverty-level incomes. By putting in place tax policies that would ask just 1 percent of North Carolinians to pay slightly more, North Carolina can invest in a more equitable, just recovery for everyone. Read more
NC Policy Watch: Some simple truths about the taxes corporations pay and Biden’s proposal blow the whistle on them
April 14, 2021
Discovery No. 1 one is that almost no major U.S. corporation, certainly not those that do business overseas, actually pays the 21% corporate tax rate, set by law. In fact, on average, Fortune 500 companies pay about half that much – 11.3% according to the non-profit Institute for Taxation and Economic Policy and Taxation, working […]
NC Policy Watch: New report: NC tax policy promotes racial inequities in numerous ways
April 14, 2021
North Carolina’s tax code and budget are wrought with such policy choices, which can result in racist outcome that worsen barriers to well-being for people and communities of color, according to new data from the Institute on Taxation and Economic Policy (ITEP). The greater tax load carried by Black, Indigenous, and Latinx residents has been […]
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