Politics & Government
5:20 pm
Tue April 15, 2014

NC Governor Lauds State's Tax Overhaul To 'Build North Carolina's Future'

Credit NC Governor's Office

Governor Pat McCrory held a press conference today to celebrate a new report suggesting the state's economy is benefiting from tax cuts enacted last year.

The conservative American Legislative Exchange Council's "Rich States, Poor States" report ranks North Carolina sixth in the nation for its economic outlook.

McCrory says lowering corporate income taxes in particular has encouraged companies to move to the state.

"While April 15th is a good day to recognize the historical tax overhauls we've achieved, we must never forget that reform is fundamentally about unleashing the unlimited power and creativity of our people, so they can build North Carolina's future," said McCrory.

But opponents of the overhaul say the wealthy receive larger tax breaks under the plan. And some low income families are paying a higher proportional share of taxes.