Budget & Taxes

 

FY 2013-14 House Budget Plan: Spending Similar to Senate, Differs on Tax Reform and School Choice

The North Carolina House unveiled its two year spending plan on Sunday night. Total spending for FY 2013-14 would come to $20.6 billion – virtually identical to the Senate’s budget proposal and Gov. McCrory’s budget released in March.

 

The Right Move for the SBI

Reform of a state agency many have heard of but most know little about, the North Carolina State Bureau of Investigation (SBI), is one of the provisions drawing attention in a proposed state budget passed by the North Carolina Senate. This budget continues the work of making state government finances…

 

We Are All in the IRS’ Crosshairs Now

Maybe it was just a coincidence that after I started to work for “North Carolina’s Conservative Voice” my income taxes were audited. Maybe. Maybe not. I’ll never know one way or the other. That’s why still-unfolding IRS scandals are so ominous. As I’m sure you know, the Internal Revenue Service…

 

Getting Government Goodies. Or Not.

As a homeowner in Cary, I have been getting a good lesson in how government giveaways aren’t all they are cracked up to be. Last month New York-based MetLife revealed it will be moving employees from Northeast locations to two campuses — one in Charlotte, one in Cary here in…

 

FY 2013-14 Senate Budget Proposal: Large Tax Cut, Spending Nearly Identical to McCrory’s Plan

Last night, the North Carolina state Senate unveiled its two year state budget proposal. Total spending included for FY 2013-14 comes to $20.58 billion, which would be roughly $400 million higher than the current year’s budget, good for a 2.3 percent increase. The Senate’s plan is about $17 million less…

 

NC Budget Writers Should Beware of the Power of Compounding Expenditures

For savers, compounding interest can be a great thing. It helps to accelerate the rate of increase of your money in the bank. For state budgets, however, the concept of compounding budgetary increases can rapidly create out-of-control spending obligations. For state budget writers tempted to think it safe to increase…

 

Gov. McCrory’s First Budget Proposal Unveiled

“Changing policy through our budget.” That’s how newly elected Governor Pat McCrory described his first state budget proposal at a press conference Wednesday morning. McCrory’s plan would increase year-over-year spending by nearly half a billion dollars while not raising taxes. Most of the policy “changes” are focused on education. Total…

 

Taxpayer Bill of Rights: A Needed End to the Budget Roller Coaster

This article originally appeared in the Raleigh News and Observer. North Carolina’s tax structure is almost assuredly going to receive an overhaul in 2013. Legislative leaders and newly elected Gov. Pat McCrory have made no secret of this. It is vital, however, that while addressing the revenue side of the…

 

North Carolina Sales Tax Shift Could Help Workers

This article originally appeared in the Fayetteville Observer. A change in North Carolina’s tax code is coming this year. The most likely outcome will be a reduction in the reliance on our state’s income taxes and more of a reliance on an expanded sales tax. Critics complain the new tax…

 

House Bill 35: Giving a Voice Back to the People

House Bill 35, with primary sponsors Rayne Brown (R-Davidson) and George Cleveland (R-Onslow), would repeal the statutory authority enabling the state to issue Certificates of Participation (COPs) as a form of debt financing. COPs have been the preferred method of non-voter approved debt for the state since 2000. Traditional, general…

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