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Tax Cuts Begun in 2011 Have Put $5 Billion Back Into the Economy

It’s tax filing deadline day, making it a perfect time to assess how far we’ve come in North Carolina by making sure every working North Carolinian keeps more of what he or she earns. That’s due to pro-growth economic policies adopted over the post six or seven years. Becki Gray recently put a pencil to the tax reforms as part of her assessment of the impact of pro-growth policies on North Carolina. 

Tax cuts begun in 2011 have put $5 billion back into the economy; $10 billion by 2022. All North Carolinians pay a lower personal income tax, businesses pay less, the sales tax rate is lower, and many taxes have been eliminated altogether. The zero-tax bracket has gone from $11,000 to $20,000, benefiting our lower income neighbors the most and removing the tax burden entirely for about 150,000 taxpayers. 

Giving every working person economic opportunity. It’s the North Carolina way. Has been since 2011. It’s thanks to the economic conservatives who serve in the General Assembly, and to former Gov. Pat McCrory.

Donna Martinez / VP of Marketing and Communications

Donna came to the John Locke Foundation in January 2003 after freelance writing for Carolina Journal and contributing to projects for the North Carolina Education Alliance. He...

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