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The U.S. House and Senate voted along party lines to pass the latest tax and spend bill, “The Inflation Reduction Act of 2022,” (IRA) sending it to President Biden’s desk. Yesterday, with Biden’s signature, the bill became law.
The U.S. House and Senate voted along party lines to pass the latest tax and spend bill, “The Inflation Reduction Act of 2022,” (IRA) sending it to President Biden’s desk. Yesterday, with Biden’s signature, the bill became law.
 
Inflation remains at a 40-year high, and while Congress prepares to spend hundreds of trillions of dollars more, families across North Carolina are struggling with the higher costs of getting their children ready to return to school.
Inflation remains at a 40-year high, and while Congress prepares to spend hundreds of trillions of dollars more, families across North Carolina are struggling with the higher costs of getting their children ready to return to school.
 
The Census Bureau has just issued its latest annual report, “Income and Poverty in the United States: 2020,” and American Enterprise Institute economist and blogger Mark Perry has extracted and summarized its highlights, as he does every year.
The Census Bureau has just issued its latest annual report, “Income and Poverty in the United States: 2020,” and American Enterprise Institute economist and blogger Mark Perry has extracted and summarized its highlights, as he does every year.
 
Vote sets up a potential compromise version with the House
 
Gov. Roy Cooper was supposed to announce the state’s official back-to-school plan on Wednesday, July 1.
Gov. Roy Cooper was supposed to announce the state’s official back-to-school plan on Wednesday, July 1.
 
Decisions about what school will look like in the fall are coming up fast.
 
Wealthy North Carolinians pay a higher share of their incomes in taxes than do middle-income North Carolinians, who in turn have a higher effective tax rate than the poor
Wealthy North Carolinians pay a higher share of their incomes in taxes than do middle-income North Carolinians, who in turn have a higher effective tax rate than the poor
 
NCGOP Chairman Robin Hayes today praised efforts by North Carolina Republicans to lower and simplify state taxes while providing a boost to the economy
NCGOP Chairman Robin Hayes today praised efforts by North Carolina Republicans to lower and simplify state taxes while providing a boost to the economy
 
So far this year, we've had three state budget plans submitted by the three main actors in the drama: Gov. Pat McCrory, the North Carolina House, and the North Carolina Senate
So far this year, we've had three state budget plans submitted by the three main actors in the drama: Gov. Pat McCrory, the North Carolina House, and the North Carolina Senate
 
Political progressives aren't the only ones who see value in adding more "progressivity" to the state's personal income tax. A Republican-sponsored bill that won unanimous support last week in the N.C. Senate would accomplish that goal
Political progressives aren't the only ones who see value in adding more "progressivity" to the state's personal income tax. A Republican-sponsored bill that won unanimous support last week in the N.C. Senate would accomplish that goal
 
Taxpayers in every income category will save tens of millions of dollars because of state tax reforms enacted in North Carolina in 2013.
Taxpayers in every income category will save tens of millions of dollars because of state tax reforms enacted in North Carolina in 2013.
 
North Carolina's historic 2013 tax reform is once again under attack, and once again the critics are using misleading claims and false narratives to deceive the public.
North Carolina's historic 2013 tax reform is once again under attack, and once again the critics are using misleading claims and false narratives to deceive the public.
 
Ideas drive public policy. During the last couple of years, North Carolina has begun to implement sound ideas to reform taxes, transportation, regulation, energy, education, Medicaid, and more. Good policy leads to more economic freedom, and that leads North Carolina in the right direction.
Ideas drive public policy. During the last couple of years, North Carolina has begun to implement sound ideas to reform taxes, transportation, regulation, energy, education, Medicaid, and more. Good policy leads to more economic freedom, and that leads North Carolina in the right direction.
 
With all of the attention focused recently on ensuring that North Carolina public school students are able to read at grade level by the end of the third grade, perhaps now is a good time to put forward a brief test of adult reading comprehension.
With all of the attention focused recently on ensuring that North Carolina public school students are able to read at grade level by the end of the third grade, perhaps now is a good time to put forward a brief test of adult reading comprehension.
 
Taxpayers in every income category will save tens of millions of dollars because of state tax reforms enacted in North Carolina in 2013.
Taxpayers in every income category will save tens of millions of dollars because of state tax reforms enacted in North Carolina in 2013.
 
The average North Carolina household in every income category received a tax cut from the 2013 tax reform.
 
We've said our peace in opposition to the NC General Assembly's campaign to increase unemployment taxes for employers across the state. We've received SOME criticism over that position -- even from alleged conservatives -- sniffing that the increase is a mere "pittance"
We've said our peace in opposition to the NC General Assembly's campaign to increase unemployment taxes for employers across the state. We've received SOME criticism over that position -- even from alleged conservatives -- sniffing that the increase is a mere "pittance"
 
While increasing dependency on government is a very real problem, with both economic and political consequences, it cannot be measured effectively by annual income-tax statistics. Taxation is a process, not an event.
While increasing dependency on government is a very real problem, with both economic and political consequences, it cannot be measured effectively by annual income-tax statistics. Taxation is a process, not an event.
 
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