NC leaders propose $663 million refund for taxpayers

NC leaders propose $663 million refund for taxpayers

RALEIGH, N.C. (WBTV) - A proposed act could mean refunds for taxpayers.

Senate Leaders Phil Berger and House Speaker Tim Moore announced the Taxpayer Refund Act Wednesday, saying taxpayers sent too much money so they’re sending some back.

If passed into law, every taxpayer would be refunded a maximum of $125 for individuals and $250 per couple.

Leaders estimate the refund will be $663 million total to the people. More than 5.1 million taxpayers would receive a refund.

“Tax revenues don’t belong to the government, they belong to the people who earned it. Refunding up to $250 means a lot to a family that’s living paycheck-to-paycheck. We collected more money than was needed, so we’re giving it back,” Berger said.

The North Carolina Department of Revenue would issue the refunds via check and send them by December 15 to those who filed before August 1. The department would be required to mail checks by February 1, 2020 for those who filed before Aug. 1, 2019 and October 1, 2019.

“Sending taxpayer relief back home to hardworking North Carolinians is consistent with the General Assembly’s successful approach to the state budget that built the $900 million surplus and benefits families with higher take-home pay, more jobs, and a rapidly growing economy," Moore said.

Legislators say they’re willing to negotiate a new budget with Governor Roy Cooper.

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