Two of the Tar Heel State’s school choice programs have saved taxpayers between $74.1 million and $154.3 million through fiscal 2018, according to an updated analysis from the school choice advocacy organization EdChoice.
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Income and poverty facts matter
The income of the median American household fell by nearly 3% last year as the COVID-19 pandemic and subsequent regulations shuttered many businesses for months, closed others for good, and forced still other employers to cut back on hours and wages for the people they still employed.
Republican Council of State members revoke state evictions protections effective July 1
The state evictions moratorium will end July 1 after Republican members of the Council of State rejected a one-month extension, which would have aligned with the national CDC evictions moratorium through July 31.
Senate passes sweeping tax cut package with 8 Democrats on board
The North Carolina Senate passed a Republican-led tax reform package Wednesday evening in a quick, 36-14 vote that drew eight Democrats to cross the aisle and vote in favor of the bill. House Bill 334 would raise the standard deduction from $21,500 to $25,500 for joint filers, which would take about a quarter of a million of the lowest-income North Carolinians entirely off the tax rolls. It also reduces North Carolina’s flat income tax rate for remaining taxpayers from 5.25% to 4.99%.
Republicans propose $2.1 billion in cuts on state income taxes
Personal income tax rates would be slashed and the corporate tax rate entirely eliminated by 2028 under a proposal rolled out on Tuesday, May 25, by N.C. Senate Republicans.