Cotham: House could tax rich

bniolet — Fri, 05 Jun 2009 14:18:06 -0400

State House Democrats could consider raising taxes on North Carolina’s wealthiest taxpayers as they struggle with a record budget shortfall, a Charlotte lawmaker said Friday morning.

Democratic Rep. Tricia Cotham made the statement in a conference call on the budget with more than 50 constituents, elected officials and others, Jim Morrill of The Charlotte Observer reports.

Cotham said Democrats, who control the House, are considering a package of income and excise tax hikes to offset a shortfall that now stands at $4.6 billion.

"We are not talking about taxing the working class," she said. "We’re looking at 3 to 5 percent of North Carolina’s richest income earners."

To those making more than $250,000 a year, she said, "You’re going to have to pay more – and I think you should."

Cotham offered a bleak assessment of proposed cuts. For example, she described what she called "absolutely devastating" cuts in education spending that could amount to $1.8 billion and "set back education at least a decade."

More after the jump.

Chipp Bailey

Cotham: House could tax rich