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State Senate Passes Bill That Caps State Income Tax Rate at 5.5 Percent PDF Print E-mail
State Government
By Administrator   
Wednesday, 15 March 2017 09:55
The state senate passed legislation on a constitutional amendment that would cap the state personal income tax rate to no more than 5.5 percent. 
 
If passed by the house, the constitutional amendment would go before voters in the November 2018 election. 
 
The top state income rate is 5.49 percent, but the North Carolina Constitution allows the rate to go as high as 10 percent. 
 
The vote passing Senate bill 75 was 36-13 with Republican Tamara Barringer voting against the cap while Democrats Joel Ford and Ben Clark voting for it.  
 
 In a statement, Alexandra Sirota, Director of NC Budget & Tax Center, said the constitutional amendment is un-democratic. 
“By placing a low and arbitrary income tax cap into our state constitution, lawmakers are taking democracy out of the budget process. They are aiming to lock in their desired choices and limit the choices of North Carolinians tomorrow, 10 years from now and 100 years from now.  Under this amendment, lawmakers elected by North Carolina’s future voters will not have the tools to meet our state’s future needs.”
 
Americans for Prosperity State Director Donald Bryson had the following statement: “Americans For Prosperity applauds the senate for passing SB 75 and choosing to let voters protect themselves from future tax hikes. If the State House passes this commonsense reform voters will get to cast the final vote on capping the income tax rate at 5.5%. 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.
Last Updated on Wednesday, 15 March 2017 10:10
 
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