North Carolina lawmakers are considering legislation that would refund $900 million to taxpayers. Carolina Journal reporter Lindsay Marchello writes,
The bill intends to refund $900 million in surplus tax revenue. Lawmakers learned earlier this summer that income-tax payments and sales-tax collections ran higher than expected. Republican legislative leaders want to give that money back to taxpayers.
About $680 million will cover refunds and the cost of sending checks. The remaining surplus will go to the Rainy Day Fund. Refunds will be based on how much N.C. residents paid in state taxes. At a max, individuals could see $125 and couples could see as much as $250.
Of course, some North Carolinians oppose the plan. They would like the government to keep their refund and use it to fund their program of choice. While individual taxpayers may not be able to dictate how the General Assembly uses the money, they should not be required to receive a refund that they claim is a “waste of time and money.”