The North Carolina General Assembly’s Fiscal Research Division released a new memo that strongly disproves the misleading claims from Governor Roy Cooper and members of the NC Democratic Party about our tax relief packages.
Barry Boardman, head economist of the NCGA Fiscal Research Division, clearly and decisively wrote…
“We estimate that the expected number of Individual Income Tax returns will decrease by an estimated 230,000 when compared with the expected number if the 2012 tax laws were still in effect. Since 2013, the General Assembly has made significant changes to the State’s individual income tax including: rate reductions, changes to tax credits, exemptions and deductions; and increases in the standard deduction. Due to these law changes, especially those enacted by S.B. 257, we expect that for tax year 2019 the number of tax returns with no tax liability will be higher than otherwise expected.”
Since 2011, Roy Cooper and his liberal tax-and-spend allies have spread baseless class warfare propaganda seeking to divide North Carolinians. This dishonesty shows the Democratic Party’s disdain and distrust in North Carolinians.
We, the House Republicans, believe you know how to spend, save, and invest your hard-earned money better than the government.
For those reasons, we have tripled the standard deduction for married families filing jointly since 2013, an approach to tax relief that helps those who earn the least, the most, by significantly reducing or altogether eliminating the percentage of their income paid to the state.