State's Deputy Budget Director Has Concerns About Eliminating State Income Taxes
Governor Pat McCrory's deputy budget director says he has concerns about some Republican legislative leaders' idea to possibly eliminate North Carolina personal and corporate income taxes. Art Pope told a reporters' roundtable at UNC yesterday that he personally believes shifting the burden to consumption taxes would be regressive. And he says the governor is searching for logical ways to reform the tax code.
"Governor McCrory has talked about tax reform on a revenue neutral basis been discussed at the national level, is trying to get the tax code away from being used for basically crony capitalism, favoritism, where those with the best lobbyists, best lawyers carve out exceptions for themselves, for their industry, where maybe a single company gets an advantage over another corporation."
Both state Senate leader Phil Berger and Senator Bob Rucho are floating ideas for a bill that could lower personal and corporate income taxes to zero. But Pope says Governor McCrory supports lowering individual and corporate income taxes by broadening the base to be more competitive with neighboring states.