Tax Cuts: Wrong Choice for North Carolina's Economy
Tax cuts for big, profitable corporations and the wealthy is the wrong choice for North Carolina.
The irresponsible tax changes passed in the 2013 legislative session will not boost our economy or create more jobs, but they will result in middle- and low-income families paying more taxes. There will also be damaging cuts to important public services that both businesses and average North Carolinians rely on, including our public schools and universities which build a skilled workforce and encourage innovation.
In 2014, the harm of the tax plan is already clear. Revenue losses have mounted, budget cuts have continued and working North Carolinians have lost the state Earned Income Tax Credit that helps them make ends meet.
MONITORING IMPLEMENTATION OF THE TAX PLAN
Here are a few of our latest resources on how the tax plan is harming North Carolina’s families and communities.
- Revenue continues to underperform projections, shortfall will likely grow larger
- Four reasons 2013 tax plan the likely driver of revenue shortfalls
For background on the 2013 tax plan, see the resources below. Click on the images to see who pays and who loses under the new tax plan.
Click here to see a Guide to the Timing of NC Tax Code Changes based on the 2013 law
This page brings together our research on the tax plan lawmakers passed and various key aspects of the debate. Check out these publications for more information on what North Carolina's economy needs.
These tax proposals will hurt our state by:
1. Failing to create jobs
2. Reducing our ability to make key economic investments or achieve greater economic growth
- FACTSHEET: Current North Carolina tax and budget proposals could mean cuts for public education
- BTC BRIEF: Empty Promises - Income Tax Cuts A Poor Strategy for Boosting the Economy
- BTC BRIEF: Cutting Corporate Income Taxes Won't Be an Economic Boon for North Carolina
- BTC Reports: The case for North Carolina’s personal income tax
- BTC Brief: Taxes as Job Creators – Research shows investing in public structures creates jobs
3. Raising taxes for middle- and low-income North Carolinians
- BTC REPORT: Final Tax Plan Falls Far Short of True Tax Reform
- FACTSHEET: 64,000 North Carolina families set to lose EITC, experience tax increase
- BTC BRIEF: No Protection For Working Families
- BTC REPORTS: Senate Tax Plan
- BTC BRIEF: House's Flat Income Tax a Windfall for the Wealthy
- FACTSHEET: Final Tax Plan puts at risk what makes North Carolina great
- FACTSHEET: Elimination of the NC Earned Income Tax Credit shifts tax load further onto low-income working families
For a complete directory of resources on 2013 tax proposals, click here.