Budget
NC leaders’ tax cuts for wealthy mean we will lose more than $13 billion for NC needs
Combined with the personal and corporate income tax cuts that had already been scheduled, new cuts in the recent North Carolina budget are estimated to lead to a loss of over $13.5 billion in revenue per year when fully implemented. (This is a low estimate; the higher estimate is $15.2 billion.)
Open Letter from 21 Groups on the Final Budget & Call for Prioritizing People Over Politics and Powerful Interests
To: Leaders of the NC General Assembly Members of the Senate Standing Committee on Appropriations/Base Budget Members of the House Standing Committee on Appropriations CC: Members, North Carolina Senate Members, North Carolina House of Representatives October 4, 2023 Dear NC Legislators: We, the undersigned, have come…
NCGA leaders lock in more tax cuts in final budget while abandoning transparency and accountability
The NC General Assembly’s budget decisions this year will have repercussions for years and decades to come, and instead of providing support to North Carolina communities who need more to thrive, legislative leaders have instead continued on a course that will deepen harm.
Statement from the NC Budget & Tax Center on passage of NC budget
Statement from Alexandra Sirota, Executive Director of the NC Budget & Tax Center Legislative leaders have prioritized the interests of the wealthy few and out-of-state corporations over the people of North Carolina in their final budget. We shouldn’t be surprised by the callous and flawed outcome that results from a process that is blocked from…
Statement on budget developments, Sept. 19, 2023
Statement from Alexandra Sirota, Executive Director of the NC Budget & Tax Center Once again, state leaders are gambling with people’s lives and our state’s future. They are breaking their promise to provide health care to hundreds of thousands of North Carolinians as part of the state budget – now tying Medicaid expansion to casino…
NC leaders are still gambling with North Carolina’s future
Now it appears that legislative leaders’ plan for tax cuts relies on the claim that scant gambling revenue should justify deeper income tax cuts for the richest North Carolinians.
For Labor Day: A state budget worthy of NC workers and their families
This Labor Day, we need to come together to demand our elected leaders put forward a budget for workers and their families.
As school begins, let’s give North Carolina students a fully funded future
Teachers require students to turn in their homework on time, but NC General Assembly leaders are still negotiating the state budget behind closed doors nearly two months past its due date.
Tax triggers are trouble: NC leaders’ latest design for tax cuts won’t improve our lives
The leadership of the General Assembly has spent a lot of time — not just this summer but for more than a decade — planning to get to zero income tax. Meanwhile, they have spent no time planning to get to zero poverty and zero hardship for the people of North Carolina. The latest development around tax triggers is a distraction from the reality that leaders choose time and again to divert our wealth to the richest North Carolinians rather than developing policies that make childcare more affordable for working families, ensure every family has a roof over their heads, or reduce hardship.
Tax cuts for richest 20% or fund the things North Carolinians need?
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.