revenue

Whither Kansas, & Will NC Follow?


“Hope you’ll visit us in Kansas. We need your sales tax revenue.”

So said Annie McKay, Executive Director of of the Kansas Center for Economic Growth at yesterday’s Crucial Conversation held by NC Policy Watch. The room was packed with North Carolinians concerned for our state’s financial health in the wake of drastic tax changes enacted by NCGA leadership.

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.

Subscribe to RSS - revenue