From Mitch Kokai, writing at carolina journal.com:
“A person earning $1 million or more a year will get a tax break that is 85 times larger than what a working family gets. Think about that for a minute: 85 times larger.”
Gov. Roy Cooper uttered those words during his brief noontime press conference on the compromise state budget plan heading to a vote this week in the N.C. House and Senate.
Cooper offered no details, and it’s not clear how he allocated various pieces of the tax package included in the 2017-19 budget plan.
What is clear is that Cooper’s remarks could not apply solely to the personal income tax changes scheduled to take effect in 2019.
Continue reading for Mitch’s analysis of the numbers.