NC tax reform package introduced
The first big step in reforming North Carolina’s tax code was taken this week as Senate Republicans are out with tax reform package.
The plan would reduce personal and corporate income taxes, but nearly 100 services that aren’t taxed would be subject to a sales tax.
Senator Phil Berger of Rockingham County says the new tax plan is about fairness, “The Tax Fairness Plan is a three year plan to put over a billion dollars back into the pockets of North Carolina’s hard-working families and encourage job by providing tax relief to those job-creating businesses in the state.”
Berger added the new plan would eliminate tax loopholes for special interests.
Opponents of the plan say the lowest income earners could see overall tax increases.
The Senate’s tax plan proposes the largest tax shift in the history of North Carolina.