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Pro-Growth Tax Reform Ideas for North Carolina
January 28, 2013
With the 2013 legislative session beginning this week in Raleigh, the Tax Foundation’s timing couldn’t have been better. Today marks the release of their new book, North Carolina Tax Reform Options: A Guide to Fair, Simple, Pro-Growth Reform, which carefully examines the Tar Heel State’s current tax structure and presents four revenue-neutral tax reform options that could significantly improve the State’s overall economy and business tax climate. In a News and Observer op-ed, authors Scott Drenkard and Joe Henchman summarize the four plans:
Each of these plans is discussed in further detail in the book, along with an in-depth study of North Carolina’s evolving economy. Also included are additional tax reform suggestions such as repealing taxes on intangibles and inheritance.
Moving forward, this will be an excellent resource for North Carolina lawmakers looking to implement a more neutral and fair tax system. With pressure mounting from overburdened taxpayers (who gave the GOP total control of the State Capitol for the first time in more than a century), there is a strong chance we’ll see positive tax reforms coming out of Raleigh in the near future.
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