You can listen to the recording of the June 21 call, but you may also be interested in these links with additional information:
- This side-by-side comparison chart comparing the Senate and House budget proposals.
- Here’s a chart on the Senate Tax Plan and a fact sheet on the House Tax Plan.
- Here’s a fact sheet on the EITC. And, here is the brief explaining why the EITC is superior to the zero-tax bracket.
The four primary talking points on these issues:
- The House and Senate tax plans are nothing more than huge tax cuts for millionaires that will force everyone else to pay the price.
- Both tax plans are huge revenue losers for the state with the House plan representing over a $500 million loss a year when fully implemented and the Senate plan with over a billion dollar price tag each year. This prompts us to ask “The Billion Dollar Question.” Our entire community college system budget is $1 billion a year. What will we have to give up to fund millionaire tax cuts? Public education quality? Health care for vulnerable families and seniors? Early education for at-risk children? Here’s a graphic representing this question.
- Legislators said that NC can’t afford the EITC’s $105 million price tag for more than 900,000 hardworking, low-income families but they can afford to repeal the estate tax worth $50 million for just 23 wealthy estates? Better options exist. NC can do better! (see this infographic)
- The House and Senate budgets both leave vital public investments underfunded when compared to pre-recession spending levels. Funding for our public education and university systems, and health and human services are falling behind what is needed to invest in North Carolinians education and health needs. It is time to reinvest, not divest in these critical services.
Thanks to Tazra Mitchell and Amber Moodie-Dyer of the NC Justice Center’s Budget and Tax Center for providing this background information.