Carolina Journal: Senate Tax Reform Plan Passes Key Committee Hurdle
North Carolina is one step closer to historic tax reform that gets the state back in the game! Carolina Journal’s Barry Smith talks about the latest update:
Senate Tax Reform Plan Passes Key Committee Hurdle Leader Berger champions bill Finance Committee co-chairman will not support
By Barry Smith June 13th, 2013
RALEIGH — Senate Republicans pushed ahead Wednesday with their version of tax reform as the chamber’s Finance Committee gave the bill a thumbs up. The measure was approved, however, without the support of the author of another key tax reform proposal.
Sen. Bob Rucho, R-Mecklenburg, who co-chairs the Senate Finance Committee, told his colleagues that he would not vote for the Senate’s version of House Bill 998.
In Rucho’s place, Senate President Pro Tem Phil Berger, R-Rockingham, appeared before the committee to urge support for the bill, which would reduce the personal income tax rate and phase out the corporate income tax. Read more…