State and local tax deductions, commonly referred to within the Washington beltway as “SALT,” have become a lightning rod for bipartisan criticism over the past few weeks – a flashpoint that has received national attention. Under H.R. 5376, the so-called “Build Back Better Act” that was passed by the…
Believe it or not, the “limousine liberal” tag was first used by a Democrat to describe a Republican in a New York City mayoral campaign during the late 1960s. Back then, the Democratic Party was still largely cemented as America’s working-class party. Today, it’s an entirely different story. Few…
If state legislators can convince Gov. Roy Cooper to support the new budget, North Carolina will become the 13th state to enact a personal income tax cut this year, the third signed into law by a Democratic governor. That personal income tax cut is expected to be included in the…
The state Senate plan offers much more aggressive tax relief for North Carolinians.
Gov. Roy Cooper could change the dynamics of next year’s legislative elections and create a legislative legacy if he does one thing; call Wisconsin Gov. Tony Evers and follow his example on the state budget. On July 8, Evers, the Democrat governor of the Badger State signed the Republican state…
The General Assembly convened Jan. 13 and has met for well over 100 days. More than 1,700 bills have been filed; bills on election reform, appropriating federal COVID money, energy modernization, medical marijuana, sports betting, constitutional amendments, education reforms, health care advancements, regulatory reforms, unemployment benefits, confirmations, and appointments…
This week the Senate leadership presented the chamber’s state budget proposal. After a day or two of social media reaction and topline numbers, it’s time for a real look at what this contains before it runs the legislative gauntlet. A theme runs through this budget: Fix what’s broken, maintain what…
North Carolina has over-collected more than $6 billion in state taxes when compared to May of 2020 economic forecasts. This according to data just presented to members of the Joint Full Chairs Appropriations Finance Committee by the nonpartisan Fiscal Research Division at the General Assembly and the Office of State…
The North Carolina Senate passed a Republican-led tax reform package Wednesday evening in a quick, 36-14 vote that drew eight Democrats to cross the aisle and vote in favor of the bill. House Bill 334 would raise the standard deduction from $21,500 to $25,500 for joint filers, which would…
A proposed tax cut from Senate Republicans would move North Carolina to fifth in the state business tax climate rankings, the Tax Foundation says. North Carolina, now 10th, ranked 46th when Republicans took control of the General Assembly in 2011. The Tax Foundation…
