Economy
Nearly two months into the new fiscal year, North Carolina Republican legislative leaders are doing what they know best; focusing on divisive side issues while ignoring the real needs of our state. In the past few weeks, Republicans in both chambers have presented budgets that signal business as usual — controversial measures, heavy on tax…
Read MoreLast week, former NC Rep. David Lewis, became the state’s latest prominent Republican to become a convicted felon. Lewis, who funneled campaign dollars to his family farm, pleaded guilty to making false statements to a bank and for failing to file a 2018 federal tax return. Lewis will be sentenced at a later date, but…
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Last week, the Republican-led state House unveiled it’s 600+ page budget that falls short of truly investing in North Carolina. House lawmakers voted 72 to 41 on Thursday to give final approval to their $25.7 billion budget plan that prioritizes tax cuts for corporations and the wealthy while ignoring the needs in education, public health…
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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,…
Read MoreNothing says openness and transparency like a last minute midnight vote on a controversial energy bill that Duke Energy has been the driving force for with some legislators for months. A 57- 49 vote came just after midnight last week for the Republican-backed House Bill 951. HB 951 is legislation that would deliver a number…
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The Republican-led state Senate rolled out a $25.7 billion state budget proposal Monday, with measures that cut corporate income taxes, a measly 1.5 percent annual pay raise for educators and a provision that would limit a governor’s power during states of emergency. The proposed budget fails to include the $5 billion in unreserved funds and…
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Last week, Republican House and Senate leaders in the NC General Assembly announced their proposed total spending figure for the state budget, which consists of spending $25.7 billion in 2021-2022 and $26.7 billion in 2022-2023. Details of the budget have not been finalized, yet the state legislature has already contemplated cutting taxes for corporations and…
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On Wednesday, North Carolina Governor Roy Cooper unveiled a list of proposals for North Carolina’s $5.7 billion share from the $1.9 trillion American Rescue Plan passed by federal lawmakers in March. Calling it a “once-in-a-generation opportunity” to make transformational changes, Gov. Cooper proposed widespread investments to expand high-speed internet access across the state, give checks…
Read MoreLast week, prominent Republicans pushed forth the passage of House Bill 334, a bill that would change North Carolina’s tax code with respect to Paycheck Protection Program (PPP) loans. The catch? House Speaker Tim Moore and other lawmakers would benefit from the tax cut. Under the new changes, PPP loans would remain un-taxed and companies…
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Yesterday marked Vice President Kamala Harris’ first trip to North Carolina since taking office to promote President Joe Biden’s $2 trillion jobs and infrastructure plan. The expansive infrastructure package, known as the American Jobs Plan, includes money for roads and bridges, affordable housing, as well as cleaner energy sources, elderly care and expanding broadband. From…
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