Another achievement for the Republicans in the North Carolina General Assembly was the bill to place a constitutional amendment on the ballot to cap income taxes at 3.5%. This is far less than the maximum income tax rate when the socialists were in control until 2010.
This is an especially satisfying victory for several reasons.
First, voters will likely pass this amendment.
Second, it will be very difficult for the socialists to unravel it in the event they regain control in the state.
Third, if the state’s voters continue to elect socialist governors, it will weaken their negotiating position with the General Assembly on matters related to budgets and taxation.
Fourth, it otherwise provides a check on the otherwise inexorable growth of government we often see.
While many of us would like to see the state income tax eliminated completely– as in Tennessee, Texas and Florida– this is still a development worthy of celebration.
Yes indeed , the voters will approve. This measure can not be vetoed. For sure it would be a good thing if the state tax were eliminated all together. Maybe in the future, who knows.
Great news from all standpoints, Fred.
Well said, Triad. So often Republicans fall short, but this is clearly something worthwhile, for which we have them to thank.
Yes, it’s nice to get some wins, J. Sobran.