UPDATED: DEMOCRAT FILES FIRST MAJOR TAX BILL: With a bipartisan list of sponsors, Charlotte Democratic Sen. Dan Clodfelter beat Republicans to the punch on tax overhaul legislation. Clodfelter filed a bill Thursday to lower personal and corporate income taxes, as well as the state sales tax with a more modest expansion of taxable services. One big proposed change: a flat income tax rate at 6 percent, instead of three-tiered structure now, as well as exempting the first $11,000 in income from taxation. Clodfelter said it would help all taxpayers but especially low- and middle-income residents.
McCRORY SAYS NO INCOME TAX ELIMINATION: Gov. Pat McCrory, who campaigned on a plan to significantly lower personal and corporate income taxes and possibly eliminate them, is now conceding ground. McCrory took his budget tour on the road Thursday to Wilmington. The Star-News reported: "Even though McCrory cited the state’s tax system as a disadvantage in competition with South Carolina and Virginia, he said it was not possible now to eliminate the personal or corporate income taxes as part of his upcoming tax reform proposals."
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