RALEIGH — The state Senate has given its approval to a proposed constitutional amendment capping the income tax rate at 5.5 percent, but one lawmaker has a better idea. Applying some fiscal restraint, said Sen. Jerry Tillman, R-Randolph, could eliminate the urge to increase tax rates in the first place. اسهم السعودية اليوم Tillman is one of the bill’s primary sponsors and co-chairs the Senate Finance Committee. http://petefoytho.com/argumentative-essay-on-abortion-pro-life/ SEC 360 Entire course “If you will prepare for hard times and not spend it all like our predecessors have, you’ll be fine to weather bad times,” Tillman said. “Bad times will come. You cycle about every eight to 10 years into good times and bad times.” The current cap on the tax is 10 percent.
Senate Bill 75 got support from nearly all Senate Republicans and even a couple Democrats. It passed by a 36-13 vote, six votes more than the minimum 30 needed to move a constitutional amendment forward.
Roy Cordato, an economist and vice president for research at the John Locke Foundation, said he generally approves of capping taxes everywhere.
“On principle, I think that’s a good idea,” Cordato said. “My concern is that this is being used and promoted as a way of expanding the base and maybe even ultimately raising the rate of the sales tax.”
Cordato said he’d prefer to see the constitutional cap expanded to cover the sales tax rate, too .
“I don’t know what it should be on the sales tax, but I’d think no higher than what it is now,” Cordato said. “Make it about the issue of over-taxation generally and not just over-taxation with the income tax.”
Tillman said states that have a hard time with constitutional income tax caps also probably fail to curtail spending, Tillman said.
“If you run away with spending and then hard times hit you, you’ve got no cushion, no reserve, then you have to go to sales tax,” Tillman said. The General Assembly has built up reserves, beefing up the rainy day fund, the unemployment fund and Medicaid reserves, he said.
Donald Bryson, state director of Americans for Prosperity-North Carolina, thinks otherwise. He applauded Senate passage and urged the House to follow suit.
“This bill will protect individuals and families currently paying North Carolina’s lowest tax rate in decades from lawmakers who only see spending increases and tax hikes,” Bryson said.
The potential effect on the state’s credit rating is another aspect lawmakers should consider.
“I believe that this bill puts our triple-A bond rating at risk,” Sen. Jay Chaudhuri, D-Wake, said. “It hamstrings our state’s ability to increase revenue.” He said having to depend on a sales tax means relying on a regressive tax. A lowering of the credit rating could result in higher interest rates for future bonds.
Two Democrats, Sens. Ben Clark of Hoke County and Joel Ford of Mecklenburg County, joined 34 Republicans in supporting the measure. One Republican, Sen. Tamara Barringer of Wake County, voted against it.
Source: Senate approves bill capping income tax rate – Carolina Journal
http://providencecarey.com/?finse=forex-bank-v%C3%A4llingby-%C3%B6ppettider&a7b=b8 forex bank vällingby öppettiderThe liberal media have always had an advantage over conservative media because of their billions of dollars in taxpayer subsidies. But now, if the Trump administration has its way with the budget, the liberal media may be reduced significantly in size. “Public Radio and Television Stations Face New Threat of Budget Cuts” is the headline over a Wall Street Journal article about proposed Trump administration budget cuts to the National Endowment for the Arts (NEA), the National Endowment for the Humanities (NEH) and public broadcasting. These cuts “are being considered to offset the Trump administration’s proposed increase in defense spending,” the paper said.Almost $13 billion has been spent by Congress on the Corporation for Public Broadcasting (CPB) since 1969.The Heritage Foundation’s “Blueprint for Balance: A Federal Budget for 2017,” proposes the complete elimination of the CPB, saving the taxpayers $445 million in fiscal year 2017. The CPB funds public radio and TV.Source: The End of Taxpayer-funded Public Broadcasting?
RALEIGH, N.C. — Gov. Roy Cooper and legislative Republicans have spent the few months since Cooper was elected fighting in court over gubernatorial powers and Medicaid. When attorney general, Cooper criticized GOP legislation his office was obligated to defend and was blasted by lawmakers for giving up on some appeals. Hostility should give way to decorum when Cooper delivers Monday night his first State of the State address to a joint session of the General Assembly. But don’t expect enthusiasm from many Republicans who comprise the veto-proof majorities in the Senate and House and remain suspicious of Cooper’s goals. “If he’ll find ways to work with us I’m more than willing to do it,” said Rep. Justin Burr, R-Stanly, “but I’m not going to sit here and stand by while he tries to cram his left-wing agenda down the throat of North Carolinians.”Source: Despite GOP rows, Cooper speech likely looks for agreement: WRAL.com
Editors Note: It is just an amazing juxtaposition when reading N&O articles about President Trump and fawning adoration by reporters of Gov. Cooper who has little if any accomplishments in his years of elected office. Fortunately his is not even the slightest hurdle in the way of GOP NCGA majorities.
A U.S. News and World Report study finds NC is in the middle of states on key measures.…Republicans, who controlled the legislature and governorship the past four years, can note how highly North Carolina government is rated. The Tar Heel State was ranked the fourth best in the country in government, with the report citing the state’s high credit rating, its pension funding, transparency and integrity. North Carolina stood out in the report – among the top 10 states – in such categories as mental health, four-year college graduation rate, college tuition and fees, pre-K quality, level of juvenile incarceration, parole completion, and gender equality.
Here is a link to read the full report without the News & Observer liberal slant
Report on North Carolina.
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