Here are a couple of bills that would have been excellent:
Repeal Incentives – Lower Corporate Tax Rate (SB 1112)
Status: Referred to the Finance Committee
Sponsor: Robert Pittinger (R-Mecklenburg)
This legislation would have eliminated a total of 22 corporate tax breaks and used the savings to cut the corporate income tax rate to 2 percent. Also aimed to increase from 5/69 to 1/4 the proportion of corporate tax funds credited to the Public School Building Capital Fund.
Taxpayers’ Protection Act (HB 1543/SB 14)
Status: Referred to Committee on Rules, Calendar, and Operations in House; Committee on Ways and Means in Senate
Sponsors: Nelson Dollar (R-Wake); Wil Neuman (R-Gaston); Mitch Gillespie (R-McDowell); Dale Folwell (R-Forsyth); in Senate: Fred Smith (R-Johnston)
This legislation would have established a cap on the growth of state spending to be equal to the rate of inflation, plus population growth, in North Carolina for the prior calendar year. Revenues collected in excess of the spending limit would be treated as follows:
• Transferred to the Emergency Reserve Fund. This fund should equal 3 percent of the current year’s spending limit.
• Any other remaining revenue would be transferred to the Budget Stabilization Fund. The goal is for this fund to amount to 18 percent of the previous year’s spending limit.
• Above and beyond these transfers, any remaining revenue would be refunded to taxpayers in the form of tax rebates or temporary rate reductions.
Any increase in the fiscal year spending limit would be subject to the approval of 3/5 of the General Assembly.
maxsays
I would add a NC Constitutional amendment on eminent domain. That’s just basic.
jeffsays
How about keeping the government from siezing property through eminent domain and then selling/giving the property to private interests. That eminent domain bill had a majority of House members as sponsors and still didn’t get a fair shot. Thanks to the League of Municipalities for all of their taxpayer funded lobbying!
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Some broad-based tax relief would have been nice.
Here are a couple of bills that would have been excellent:
Repeal Incentives – Lower Corporate Tax Rate (SB 1112)
Status: Referred to the Finance Committee
Sponsor: Robert Pittinger (R-Mecklenburg)
This legislation would have eliminated a total of 22 corporate tax breaks and used the savings to cut the corporate income tax rate to 2 percent. Also aimed to increase from 5/69 to 1/4 the proportion of corporate tax funds credited to the Public School Building Capital Fund.
Taxpayers’ Protection Act (HB 1543/SB 14)
Status: Referred to Committee on Rules, Calendar, and Operations in House; Committee on Ways and Means in Senate
Sponsors: Nelson Dollar (R-Wake); Wil Neuman (R-Gaston); Mitch Gillespie (R-McDowell); Dale Folwell (R-Forsyth); in Senate: Fred Smith (R-Johnston)
This legislation would have established a cap on the growth of state spending to be equal to the rate of inflation, plus population growth, in North Carolina for the prior calendar year. Revenues collected in excess of the spending limit would be treated as follows:
• Transferred to the Emergency Reserve Fund. This fund should equal 3 percent of the current year’s spending limit.
• Any other remaining revenue would be transferred to the Budget Stabilization Fund. The goal is for this fund to amount to 18 percent of the previous year’s spending limit.
• Above and beyond these transfers, any remaining revenue would be refunded to taxpayers in the form of tax rebates or temporary rate reductions.
Any increase in the fiscal year spending limit would be subject to the approval of 3/5 of the General Assembly.
I would add a NC Constitutional amendment on eminent domain. That’s just basic.
How about keeping the government from siezing property through eminent domain and then selling/giving the property to private interests. That eminent domain bill had a majority of House members as sponsors and still didn’t get a fair shot. Thanks to the League of Municipalities for all of their taxpayer funded lobbying!