The state Senate leadership’s budget plan is coming into clearer focus, and it’s important to realize that its passage would mean the great majority of NC taxpayers will be able to keep more of their own money, or at least won’t pay any more.
Over in NC Capitol Connection, Matt Caulder’s story outlines how and where the budget would taxes.
You may see in the media articles that focus on places where taxes go up. But income taxes will go down for most people.
And, as our research shows, income taxes harm the economy more than sales taxes.
Spreading sales taxes more widely is also a fair way to spread the burden.
There are things about the Senate plan we don’t care for. But it eases the tax burden for most people, and will help fuel growth.