Another free-market think tank has ranked Democratic North Carolina Gov. Roy Cooper positively with regard to fiscal policy, with the Cato Institute’s new governor’s rankings putting Cooper 6th overall. Cooper was the only Democrat in the top 10 and received a “B” grade overall. Cato’s report created scores for governors “on the basis of seven...
The "Inflation Reduction Act," which passed the U.S. Senate on Sunday, is up for a vote this week in the U.S. House, and the final version will not contain guarantees that those making under $400,000 per year will avoid any resulting new taxes. The House rejected amendments from two N.C. Republicans that would have limited new taxation to those earning more than $400,000.
I’m up here at a conference in Washington D.C. and met somebody from Raleigh who is a fan of Carolina Journal and he told me he liked the outrageous stories segment. It’s nice to hear from readers and I try to pick out content that has a broad appeal. Here are a few stories that...
Tax season in North Carolina won’t open until Feb. 28. Changes in the tax law, part of the state’s $25.9 billion spending plan passed last year, have delayed the Department of Revenue from finalizing certain tax forms, the department says. This also includes updates for tax systems and approval of tax preparation software. “Accurately processing...
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 U.S. House on November 19, 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 policies highlight that more right now...
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 new compromise budget currently being...
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 legislature’s two-year budget. “Gov. Tony...
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 — to name a few. ...
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 we know is working, and...
