...House Republicans inherited a $2.5 billion deficit. Families across North Carolina must balance their family budgets or face bankruptcy, why should our legislature be any different?
Since then, House Republicans have made the tough decisions to put North Carolina’s fiscal house back in order.
The results speak for themselves. We have balanced the budget every year and enacted fiscally conservative ideas to create a surplus while cutting taxes and putting more money in the pockets of all hard-working North Carolinians. More than $4,000,000,000 ($4 Billion) has been returned to our citizens.
The personal income tax has been reduced to 5.49%, and we've increased the standard deduction to $17,500 from $6000 over the last several budgets. Raising the standard deduction rate to $17,500 means that the first $17,500 a hardworking North Carolinian earns won't see a single penny of income tax charged. For many North Carolinians this has provided needed tax relief, with a lower income tax rate on those dollars that are taxed means more money in the individual's pockets.
Medium.com: House leaders praise tax relief in state budget
SpeakerMoore.com: Republicans Protect 241,000 from income tax
Triangle Business Journal: North Carolina is the best state for starting a business
Lincoln Times News: Curtis, Saine discuss the new state budget