Taxes
North Carolina is ranked 40th in the nation by the Tax Foundation in terms of a favorable Business Tax Climate. Meanwhile, state leaders are championing huge tax giveaways totaling hundreds of millions of dollars to large corporations such as Google and Dell with no cost analysis to see if there is a net benefit to the state. Large corporations and their lobbyists have successfully reduced their tax rates through special legislation which is not equitable to other large corporations and small businesses. North Carolina’s burdensome tax rates should be reduced to stimulate job creation, economic development, and increase revenues to the state treasury.
- Restructure our state government which would provide over $2 billion in savings to lower our burdensome and excessive corporate and individual tax rates, which are the highest in the southeast. The last time state government was restructured was in the early 1970’s under Gov. Holshouser.
- Co-sponsored SB 14, Taxpayers’ Protection Act. This bill would place constitutional limits to the growth of state government.
- Eliminate all tax incentives to big corporations to lure them to NC. If our tax rates competitive, incentives would not be necessary. Redirect the resources allocated for incentives to lower our individual and corporate tax rates. Small businesses generate an estimated 70% of new jobs and we must do everything we can to help them expand.
- Introduced SB 1112, Repeal Incentives Lower Corporate Tax Rate. This bill would reallocate resources used for corporate tax giveaways to lower taxes for every corporation.
- Introduced SB 1012, Reduce Tax/Cut Government Spending. This bill would reduce the corporate and personal income tax rates, cut government spending, and reduce Medicaid fraud.
- Co-sponsored SB 104, Repeal Estate and Gift Taxes
