NC tax policy

Millionaires tax giveaway deficit widens

Having already come home to roost, the pigeon that is the NC GOP tax "reform" has now settled in and is coating the state with pigeon poop. In particular, the revenue shortfall resulting from Art Pope's tax cut continues to grow to nearly $200 million for the first half of this fiscal year.

The gap between predicted and actual North Carolina state revenues is widening because of continued tepid personal income tax collections.

The legislature's top economist confirmed this week that revenues are about $190 million below expectations for the first five months of the fiscal year ending Nov. 30. Two months ago, the first-quarter gap was $62 million.

NC GOP hypocrisy about wealth inequality

The NC GOP, champions of making the wealthy wealthier and the poor poorer, seem to have a different viewpoint when it comes to the collective wealth of cities and counties.

A redistribution of local sales tax revenue to benefit poor counties is on the agenda for legislative leaders preparing for the session that begins in January.

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Republicans from both chambers are talking about changing the distribution formula to funnel more to rural areas. No one offered specifics, but such a shift has the potential to pit urban counties against rural.

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