May 18, 2015

The News&Observer: NC Forgoes a Tax Windfall

media mention

The Institute on Taxation and Economic Policy, a nonprofit research group that focuses on tax fairness, analyzed that shift. Its findings have often been misconstrued to say that 80 percent of North Carolina taxpayers ended up paying more after the tax changes. Instead, the institute found that in 2014 – allowing for the expiration of the EITC and the loss of some key deductions – the average taxpayer in the bottom 80 percent of the income distribution would pay more in state and local taxes. That’s milder than the raw “80 percent of taxpayers” claim tossed around by some Democrats, but it’s still bad.

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