Nicole Stafford

North Carolinians deserve a budget without any of the harmful tax cuts in the Senate version of budget passed in May. The Senate’s tax plan proposes reducing the personal income tax rate from the current rate of 4.75 percent to 2.49 percent after 2029, deepening already scheduled cuts. The benefits of these tax breaks will go overwhelmingly to the richest 20 percent of North Carolinians. The personal income tax cuts alone will reduce public funds by $7.6 billion annually when in full effect.