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Liberal group releases report showing GOP tax plan benefits wealthy the most

The tax plan being considered by Republican lawmakers in the General Assembly is the most generous to the wealthiest North Carolinians while raising taxes on middle-income households, according to a new report from the N.C. Budget & Tax Center, an arm of the liberal N.C. Justice Center.

The center's report is designed to counter a study by Arthur Laffer and the conservative Civitas Institute that the GOP lawmakers are using as a blueprint for an overhaul of the state's tax code that includes a proposal to eliminate the personal and corporate income taxes.

"Carolinians while raising taxes on middle-income households," according to a summary of the center's report. "If implemented, a family earning $24,000 a year would see its taxes rise by $500 under the new tax plan, while one earning $1 million would get a $41,000 break. The wealthiest 20 percent of taxpayers will receive a significant tax cut – a cut paid for by shifting the tax load to 60 percent of the state’s taxpayers, primarily middle class and low-income households."

Titled "A 'Laffable' Plan for Tax Reform," find it here.

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