RALEIGH (AP) — Business experts and economists in North Carolina say all three competing tax reform proposals in the state Legislature move in the right direction.
Academics from state universities told a Senate committee Tuesday that a compromise between the proposals would still be a marked improvement over the state’s dated tax code. They said there’s wide agreement among experts that modern tax systems need to lower rates on corporations and personal income while expanding sales taxes to more goods and services.
A plan from House Republicans passed last week does that but with less far-reaching sales tax changes. A plan pitched by Sen. Rob Rucho of Matthews is considered the most dramatic proposal. Rucho said he anticipates a compromise between the House and two Senate proposals.