Senate tax reform bill headed for vote - | WBTV Charlotte

Senate tax reform bill headed for vote

The state Senate is expected to take a first floor vote Thursday on the Republican-led tax reform plan The state Senate is expected to take a first floor vote Thursday on the Republican-led tax reform plan

 

RALEIGH, N.C. (AP) - The North Carolina Senate is advancing a tax overhaul that repeals corporate income taxes without a major expansion of sales taxes.

The bill that the Senate Finance Committee endorsed Wednesday also lowers income rates and repeals local sales taxes on food. The chamber's first plan lowered rates on corporations but greatly expanded sales taxes.

Critics argue billions in tax cuts will largely benefit the wealthy and force local governments to raise property taxes to recoup lost revenue.

The sponsor of the Senate's first tax overhaul proposal said the new plan isn't true reform because it doesn't add more sales taxes for services.

Backers of the plan point to analysis that shows the state would become far more attractive to business.

The bill is expected to reach the Senate floor Thursday.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

 

  • PoliticsMore>>

  • Horton launches campaign to run for Seventh Congressional District seat

    Horton launches campaign to run for Seventh Congressional District seat

    Friday, May 26 2017 12:30 PM EDT2017-05-26 16:30:18 GMT
    Dr. Kyle Horton has launched her campaign to run for a seat in Congress in 2018. (Source: WECT)Dr. Kyle Horton has launched her campaign to run for a seat in Congress in 2018. (Source: WECT)

    Kyle Horton has launched her first political campaign nearly 18 months before the 2018 General Election. She has declared herself a candidate for the Democratic nomination in North Carolina’s Seventh Congressional District, running for the seat currently held by second-term Republican Rep. David Rouzer. ..

    More >>

    Kyle Horton has launched her first political campaign nearly 18 months before the 2018 General Election. She has declared herself a candidate for the Democratic nomination in North Carolina’s Seventh Congressional District, running for the seat currently held by second-term Republican Rep. David Rouzer. ..

    More >>
  • Wilmington opioid pilot project included in proposed House budget

    Wilmington opioid pilot project included in proposed House budget

    Thursday, May 25 2017 12:38 PM EDT2017-05-25 16:38:11 GMT

    A pilot project to combat an ongoing opioid abuse problem in Wilmington is getting support from part of the General Assembly. The House released some of its budget proposal Thursday morning in Raleigh. The spending plan includes full funding of up to a half million dollars over the next two years for an initiative in the Port City.

    More >>

    A pilot project to combat an ongoing opioid abuse problem in Wilmington is getting support from part of the General Assembly. The House released some of its budget proposal Thursday morning in Raleigh. The spending plan includes full funding of up to a half million dollars over the next two years for an initiative in the Port City.

    More >>
  • Supreme Court strikes down 2 NC congressional districts

    Supreme Court strikes down 2 NC congressional districts

    Monday, May 22 2017 8:36 PM EDT2017-05-23 00:36:20 GMT
    Monday, May 22 2017 8:36 PM EDT2017-05-23 00:36:20 GMT

    The Supreme Court has struck down two congressional districts in North Carolina because race played too large a role in their creation.

    More >>

    The Supreme Court has struck down two congressional districts in North Carolina because race played too large a role in their creation.

    More >>
Powered by Frankly