Republican House Speaker Thom Tillis is the latest Republican to express reservations about a plan to eliminate the state's income taxes.
In an interview with News 14, Tillis said he wants to move on a tax overhaul but "the question is how do you get there and can you possibly in five months unwind 50 years of taxation." On the issue, Tillis put himself "somewhere between where the budget director and where the Senate are in terms of how you do it.
Top Senate Republicans are pushing the plan to abolish the personal and corporate income taxes and increase the state sales tax to 8.05 percent from 4.75 percent. It also includes a 1.05 percent tax on every businesses earnings, with a $500 minimum. But earlier this week Art Pope, the governor's budget director, expressed personal concerns about the plan -- a strong signal that it may not survive in its conceptual form.
Comments
This whole charade is B.S.
January 26, 2013 - 9:45am — Jackson_TybeeBesides feeding Bob Rucho's bloated ego and mollifying delusional right wing donors, this whole eliminating NC's corporate and state taxes debate is a charade. It is never going to pass because the Chamber of Commerce opposes it, rightly recognizing how terrible it would be for business. And the NC GOP is certainly not going to do anything that displeases their business buddies. But Pope and Tillis opposing it gives them all a chance to appear as if there are actually some people in their party with a brain who think for themselves (yet another illusion). They'll pass some horror show tax scheme for sure; just not this one.
Tax reform
January 26, 2013 - 6:53am — bruchoMr. Frank was again in error regarding his description of the conceptual tax reform proposal. The consumption sales tax rate of 8.05% is a combined state and local rate as compared to the present combined rate of 6.75%. There also is NO tax of 1.05 % on business earnings as described in the article. Tax reform is needed to reverse the trend of declining income (smaller pay checks),reverse the increasing level of poverty and combat the fifth highest unemployment rate (9.2%) in the country. The best way to eliminate poverty is to create more good jobs. The strategic goal is to develop an opportunity for prosperity with economic growth and jobs.