Legislators Working on Meaningful NC Tax Reform
Last week at the 24th Annual Joint Commodities Conference, Ray Starling, General Counsel to NC Speaker of the House moderated a panel on North Carolina Tax Reform. Included on that panel was Michael Hannah, Legal Counsel to the NC Senate Finance Committee, as well as 53rd District Representative David Lewis, and NC 39th District Senator Bob Rucho. Rucho explains that they are committed to North Carolina tax reform:
“There have been a number of efforts to try to fix the tax problem. And also to fix the economy in NC as well as the nation. Representative Lewis and myself are both very active and committed to the fact, as is the Governor and others, we have no alternative. If we ever wanted to have prosperity and job creation, we need this system changed.”
We hope it will have a positive effect on all sectors of the economy. There are many different ideas that are being discussed. What was shared with the commodity council today was the data that we have been considering, which is that our current system is broken and we need to fix it.
We believe that the best person to decide how the money should be spent is the consumer that earned it. When they have that and make the choice to buy something, that is their choice and they should not have the government reaching into their pockets and taking something.
We are operating on a tax system from the 1930s that is 70+ years of doing this. We are going to work as fast as we can to develop a system and give the people the chance to get used to it. So you will see changes, you will see benefit from the tax reform that comes out but we know that it takes a while.
Even having the same party doesn’t mean success. What we are trying to do is bring it to the people and let them know that this is something that needs to be done if we are going to move NC into the top tier of economic growth. We will work with our democratic colleagues. It has to be a consensus bill because if we are going to make a change we want it to be meaningful.
Moving our economy forward and creating jobs is the number one priority of this assembly.”