Aug 042013
منتدى سوق الاسهم السعودي تداول Legislative Happenings Session adjourns …. The North Carolina Senate adjourned July 26, 2013, after convening on January 9, 2013. The General Assembly tackled a number of long overdue policy reforms focused on tax, budgetary, transportation, Medicaid, regulatory, energy and election reform. In crafting this year’s budget, a broader view of where North Carolina was two years ago, what challenges we now face and the path set for our future provides a good perspective. When I began my first legislative session in January 2011, North Carolina faced a $2.5 billion budget deficit inherited from previous legislative leadership and a loud executive branch chorus pushing to extend regressive “temporary” sales taxes. We promised North Carolina citizens that temporary taxes would remain temporary. Novel concept in politics – keeping your word. But we did just that – returning over $1.2 billion that first year to fuel job creation and help struggling families and business. Governor Perdue’s message to us was one of inflammatory rhetoric such as “hostage taking; extortion …” We operated then and continue to operate on a simple premise, at least for North Carolina families – that North Carolina government should live within its means. I appreciate that our current Governor, Pat McCrory, shares this fiscally sound approach. Fast forward to 2013 – During robust economic times, previous Democratic leadership on the legislative and executive level made decisions that critically weakened the solvency of North Carolina’s unemployment insurance system. When the recession hit, North Carolina could not pay the flood of new unemployment claims and borrowed more than $2 billion from the federal government. We made the hard choice this year not to kick the can down a soon to end road. If we waited and paid off the debt by 2019, North Carolina employers would face a federal tax of $718.2 million per year rather than the standard $79.8 million per year. Under our plan, North Carolina will repay the debt by 2016. Tough choices now will put North Carolina families and business on a solid fiscal foundation for future prosperity and growth. Session Highlights …. أسهم السعودية The 2013-14 North Carolina budget: The $20.6 billion budget safeguards North Carolina’s long-term fiscal health, increases investments in core services by almost 2.5 percent and reduces taxes for all North Carolinians – this while including $1.5 billion in additional state dollars to fund unexpected Medicaid costs. Unfortunately these out-of-control Medicaid costs have driven many state budgetary decisions – including investments in those serving our state. However, rather than let this problem continue unabated, the budget creates a “Medicaid Reform Advisory Group.” The Group will: (1) Create a predictable and sustainable Medicaid program for North Carolina taxpayers. (2) Increase administrative ease and efficiency for North Carolina Medicaid providers. (3) Provide care for the whole person by uniting physical and behavioral health care. (You can view more details concerning this proposal in the enacted budget, page 161.) ·        Education: The budget invests approximately $7.9 billion on K-12 education – $300 million, or four percent more than last year. It also adds $23.6 million to continue funding the Excellent Public Schools Act – which will strengthen student literacy, improve graduation rates and increase accountability. We recognize the valuable work state employees, which includes teachers, provide and the need to have more stable and predictable salary patterns. The North Carolina General Assembly has worked to overcome some substantial financial budgetary issues the last three years so that we can put North Carolina in that position. No one has welcomed the decisions forced upon this legislature. We hope as North Carolina’s economy improves and sounder fiscal policies are implemented that these challenging times are the past, but not present or future for North Carolina government, its state employees and all our citizens. ·        Energy: Our Domestic Energy Jobs Act paves the way for a flourishing onshore and offshore energy sector ·        Regulatory Reform: the Regulatory Reform Act of 2013 improves North Carolina’s regulatory environment, eliminates rules stifling economic growth and makes our state a more attractive place to do business. You can view the North Carolina budget here. You can view the associated money report here. طريقة البيع والشراء في الاسهم عن طريق النت Election Reform: North Carolina’s election code had not received any substantial review or modification in 30 years. Our efforts this session will allow North Carolina citizens to have more confidence in our electoral system’s integrity. Highlights include: ·        Photo ID: The legislation guarantees any North Carolina citizen who wants to vote will have the opportunity. It allows any citizen lacking a photo ID to obtain one at no cost through the NC DMV. ·        Early voting: We have streamlined the early voting process to 10 days while providing counties the flexibility to increase the overall number of early voting hours. Additionally our legislation specifies that all of a county’s one-stop sites must operate the same days and hours – thus reducing any confusion and opportunities for political gamesmanship. Counties may still open polls on Sundays. ·        The bill restores North Carolina’s voice in the presidential election by moving up the date for the North Carolina primary. اسعار الاسهم مباشرة Transportation: We overhauled the North Carolina Highway Trust Fund – significantly improving how we invest in North Carolina’s infrastructure needs and allowing us to accelerate transportation projects across our state. renko charts forex factory Tax Reform: Spending and tax policies by previous legislatures and gubernatorial administrations made North Carolina the highest taxed state in the Southeastern United States. HB 998 – the Tax Simplification and Reduction Act – simplifies our state’s 1930s Depression-era tax code, cuts personal and corporate income tax rates, eliminates the death tax and ends dozens of loopholes for special interests. It provides over $1 billion in tax relief the first three years alone and makes North Carolina a much more inviting location for businesses seeking to open shop and those making substantial long-term investments that provide jobs and grow our tax base. The tax reform package will move North Carolina’s State Business Tax Climate Index score from its current 44th place ranking to 17th. What does the plan do and what does it not do? Questions many asked over the last several months. ·        Reduces the state personal income tax rate from the current maximum rate of 7.75 percent to a flat 5.8 percent in 2014 and 5.75 percent in 2015; ·        Retains the state child tax credit and increases it for families making less than $40,000; ·        Makes charitable contributions full deductible; ·        Reduces the corporate from 6.9 percent to 6.0 percent in 2014 and then to 5.0 percent in 2015. If the state meets revenue targets, it will decrease to 4.0 percent in 2016 and 3.0 percent in 2017; ·        Caps the state gas tax; ·        Eliminates North Carolina’s death tax; ·        Protects Social Security benefits from state taxes; ·        Preserves the sales tax refund for all nonprofits; ·        Offers a $20,000 combined maximum deduction for mortgage interest and property taxes; ·        Increases the standard deduction for all taxpayers, applied to the: o   First $15,000 of income for those married filing jointly o   First $12,000 of income for heads of household o   First $7,500 of income for single filers As always, if you have any questions concerning any action taken this session or any issue relative to NC, please don’t hesitate to contact my office. Click here for a full list of my sponsored legislation.
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