New poll: North Carolinians overwhelmingly oppose eliminating corporate income tax
Amid a time when corporations generated record profits during a pandemic that caused financial devastation for millions of Americans, NC Republicans passed a bill last month that would protect corporations profits further by eliminating the corporate state income tax.
According to a recent poll, North Carolina voters across party lines overwhelmingly oppose such a bill, with 66 percent saying they are against completely eliminating the state corporate income tax.
“People want to see more investment within North Carolina communities,” said Nida Allam, state director for SiX. “They don’t want to see corporate taxes being eliminated”.
- Not only are Republicans seeking corporate tax cuts through the proposed bill, the state Senate’s latest budget also prioritizes tax cuts for the wealthy and corporations over an adequate distribution of funds to ensure the state’s recovery from the COVID-19 pandemic.
- “The polling shows that people want to see that money put into schools, roads, a lot of other good things that help working people,” Ben Lazarus, director of research solutions for TargetSmart said. “They don’t want to see corporate taxes cut.”
Instead of raising the federal minimum wage, mandating hazard pay, or distributing relief to North Carolinians who have been disportionately impacted by COVID-19, Republicans continue to push legislation that serves to line the pockets of the already wealthy — further increasing inequality — with little to show for it.
As the country looks to recover from the pandemic and economic crisis, the time is ripe for lawmakers to make meaningful and long-lasting changes to ensure that communities across our state can recover and thrive — not just corporations and the wealthy few.