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NC Senator Bill Cook's Legislative Update: July 10, 2013
This week, I want to give you an update on the tax reform policy covered in the previous newsletters and address several misconceptions regarding the Faith, Family, and Freedom Act.
Following weeks of negotiation, the Senate has again made modifications to our tax reform plan to better satisfy the needs of North Carolinians and compel the support of the House and Governor. It is the first step in the Senate's long-term commitment to phasing out North Carolina's personal income tax.
Our reworked plan continues to simplify the state's 1930s Depression-era tax code, provide substantial tax relief to working families and make the state more attractive to job-creating businesses. It cuts taxes by more than $1 billion in the first three years alone. This plan is the largest tax cut in state history and reduces the tax burden for the overwhelming majority of North Carolinians. And it will help us create jobs, grow our economy and increase take-home pay - something that lower income and middle class working families desperately need.
o First $15,000 of income for those married filing jointly
o First $12,000 of income for heads of household
o First $7,500 of income for single filers
In addition, because this plan eventually eliminates the corporate income tax, it will draw new businesses and jobs to the state. Many of the people who relocate for these jobs will purchase homes and contribute to North Carolina's tax base.
Will seniors be hit hard under this plan? Are you taxing their Social Security?
On the contrary - our compromise plan does not tax Social Security - for anyone. And retirees will have more money in their pockets since their pensions and retirement plans will no longer be hit as hard by the state's income tax.
Are you taking away the charitable tax deduction? Won't that hurt churches and nonprofits?
No. This compromise plan makes charitable contributions fully deductible.
Our plan eventually caps the sales tax refund at $2.85 million, which will allow nearly every nonprofit, including rural hospitals and most colleges/universities, to collect a full refund of their sales tax. A nonprofit would have to spend more than $42.5 million on sales tax eligible purchases to reach the $2.85 million refund cap.
True nonprofit organizations that the refund was designed to help - churches, Boy and Girl Scout Troops, and local charitable organizations - would still benefit from this exemption. But big businesses, such as large hospital systems that pay their executives millions of dollars and accumulate large profits while claiming non-profit status to avoid paying taxes, would have to start paying their fair share toward the state services they use. These entities would still not pay income taxes or property taxes, but they would pay sales taxes. And that is fair.
Will county and municipal governments suffer under this plan?
This plan will generate more revenue for local governments than they currently receive. It does not change local authority for collecting business privilege taxes and a food tax.
There have been many misconceptions regarding the intent of House Bill 695, recently passed by the Senate. It is a Social Omnibus Bill, meaning it covers a range of social issues.
The first section of the bill was constructed to prevent the spread of Sharia Law to North Carolina Family Courts. In other states around the United States it has been used in divorce, alimony, child custody actions, and contracts cases. This bill protects fundamental constitutional rights of individuals and businesses.
Sharia Laws are the religious laws and moral codes of Islam. Though interpretations of Sharia vary between cultures, in its strictest definition it is considered the infallible law of God-as opposed to the human interpretation of the laws.
Along with this provision this bill addresses harmful conditions identified statewide in abortion clinics.
For instance it requires a physician performing a surgical or nonsurgical abortion to be physically present during the entire procedure to ensure patient safety. Under current law a physician is not required to be present during the entire procedure, thus putting women at risk. Along the lines of keeping women's health a top priority, the bill also guarantees a statewide standard on patient procedure and care for every facility. An example of this is a transfer agreement between clinics and hospitals, because clinics do not always have the resources or facilities to handle major complications. This will ensure women have access to appropriate care if a complication arises.
These provisions are in place to avoid atrocious situations such as those seen in Kermit Gosnell's clinic in Philadelphia, Pennsylvania by promoting safe, clean, reliable procedure.
Other measures include prohibiting sex selective abortions. Having an abortion because the child is not the desired gender is just plain wrong. It is discrimination and should be condemned. We do not tolerate gender discrimination in the workplace or in our schools. Nor should we tolerate it when a life is at stake.
In conclusion, this bill in not an attack on women and their rights as guaranteed by Roe v. Wade, but rather; a rejection of discrimination among the unborn, an assurance that Constitutional law is the only law practiced in our courts, and legislation that provides women with a safe, clean, reliable procedures.
Sponsorship Update
Since the bill filing deadline is passed, there will be no more sponsorship updates, as no new pieces of legislation will be filed. However, you can keep track of all the bills I have sponsored or cosponsored here.
Mailing Address:
300 N. Salisbury Street, Room 525
Raleigh, NC 27603
Phone: (919) 715-8293 • Fax: (919 754-3296
Go Back
A New Compromise Tax Reform Plan
Following weeks of negotiation, the Senate has again made modifications to our tax reform plan to better satisfy the needs of North Carolinians and compel the support of the House and Governor. It is the first step in the Senate's long-term commitment to phasing out North Carolina's personal income tax.
Our reworked plan continues to simplify the state's 1930s Depression-era tax code, provide substantial tax relief to working families and make the state more attractive to job-creating businesses. It cuts taxes by more than $1 billion in the first three years alone. This plan is the largest tax cut in state history and reduces the tax burden for the overwhelming majority of North Carolinians. And it will help us create jobs, grow our economy and increase take-home pay - something that lower income and middle class working families desperately need.
How does the new Senate plan accomplish these goals?
- It reduces the state personal income tax rate from the current maximum of 7.75 percent to 5.75 percent without taxing Social Security.
- It provides a standard deduction for all taxpayers, applied to the:
o First $15,000 of income for those married filing jointly
o First $12,000 of income for heads of household
o First $7,500 of income for single filers
- It retains the state child tax credit, and makes charitable contributions fully deductible.
- It offers a $15,000 combined maximum deduction for mortgage interest and property taxes. Thus, homes worth less than half a million dollars should be fully covered by the deduction; helping the working class North Carolinians.
- It phases out, and then eliminates the corporate income tax by 2018.
- It cuts the business franchise tax in half by 2017.
- It caps the state gas tax.
- It eliminates North Carolina's death tax.
In addition, because this plan eventually eliminates the corporate income tax, it will draw new businesses and jobs to the state. Many of the people who relocate for these jobs will purchase homes and contribute to North Carolina's tax base.
Frequently Asked Questions:
Will seniors be hit hard under this plan? Are you taxing their Social Security?
On the contrary - our compromise plan does not tax Social Security - for anyone. And retirees will have more money in their pockets since their pensions and retirement plans will no longer be hit as hard by the state's income tax.
Are you taking away the charitable tax deduction? Won't that hurt churches and nonprofits?
No. This compromise plan makes charitable contributions fully deductible.
Our plan eventually caps the sales tax refund at $2.85 million, which will allow nearly every nonprofit, including rural hospitals and most colleges/universities, to collect a full refund of their sales tax. A nonprofit would have to spend more than $42.5 million on sales tax eligible purchases to reach the $2.85 million refund cap.
True nonprofit organizations that the refund was designed to help - churches, Boy and Girl Scout Troops, and local charitable organizations - would still benefit from this exemption. But big businesses, such as large hospital systems that pay their executives millions of dollars and accumulate large profits while claiming non-profit status to avoid paying taxes, would have to start paying their fair share toward the state services they use. These entities would still not pay income taxes or property taxes, but they would pay sales taxes. And that is fair.
Will county and municipal governments suffer under this plan?
This plan will generate more revenue for local governments than they currently receive. It does not change local authority for collecting business privilege taxes and a food tax.
Misconceptions regarding the Family, Faith, and Freedom Act
There have been many misconceptions regarding the intent of House Bill 695, recently passed by the Senate. It is a Social Omnibus Bill, meaning it covers a range of social issues.
The first section of the bill was constructed to prevent the spread of Sharia Law to North Carolina Family Courts. In other states around the United States it has been used in divorce, alimony, child custody actions, and contracts cases. This bill protects fundamental constitutional rights of individuals and businesses.
Sharia Laws are the religious laws and moral codes of Islam. Though interpretations of Sharia vary between cultures, in its strictest definition it is considered the infallible law of God-as opposed to the human interpretation of the laws.
Along with this provision this bill addresses harmful conditions identified statewide in abortion clinics.
For instance it requires a physician performing a surgical or nonsurgical abortion to be physically present during the entire procedure to ensure patient safety. Under current law a physician is not required to be present during the entire procedure, thus putting women at risk. Along the lines of keeping women's health a top priority, the bill also guarantees a statewide standard on patient procedure and care for every facility. An example of this is a transfer agreement between clinics and hospitals, because clinics do not always have the resources or facilities to handle major complications. This will ensure women have access to appropriate care if a complication arises.
These provisions are in place to avoid atrocious situations such as those seen in Kermit Gosnell's clinic in Philadelphia, Pennsylvania by promoting safe, clean, reliable procedure.
Other measures include prohibiting sex selective abortions. Having an abortion because the child is not the desired gender is just plain wrong. It is discrimination and should be condemned. We do not tolerate gender discrimination in the workplace or in our schools. Nor should we tolerate it when a life is at stake.
In conclusion, this bill in not an attack on women and their rights as guaranteed by Roe v. Wade, but rather; a rejection of discrimination among the unborn, an assurance that Constitutional law is the only law practiced in our courts, and legislation that provides women with a safe, clean, reliable procedures.
Sponsorship Update
Since the bill filing deadline is passed, there will be no more sponsorship updates, as no new pieces of legislation will be filed. However, you can keep track of all the bills I have sponsored or cosponsored here
Mailing Address:
300 N. Salisbury Street, Room 525
Raleigh, NC 27603
Phone: (919) 715-8293 • Fax: (919 754-3296
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