The Transylvania Times -

Senate Tax Cuts Are Irresponsible

 

April 24, 2017



The tax cuts being proposed by the North Carolina Senate may sound appealing to some, but it is irresponsible and could damage North Carolina and its residents in the long run.

The state Senate proposal calls for a $1 billion cut in taxes over the next two years. The belief is that by further cutting taxes economic growth will increase and compensate for the decrease in taxes. But there are several problems that continuing to cut taxes could create or exacerbate.

The tax cuts could lead to budget shortfalls. In fact, the General Assembly’s own Fiscal Research Division has projected that...



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