Tax reform is starting!

Yesterday, Senator Bob Rucho (R-Mecklenburg) took the first step to reform the NC tax code.

We’ll have to wait a bit longer for the real reforms, but this is a fine start.

He introduced 2 bills – one of which signals much more to come…

Here are the highlights:

• By 2016, the state personal income tax drops to 0% for married couples making up to $12,500 and singles up to $6,250; with a flat 4% rate for all income above that
• Authorizes a committee to study the possibility of personal income tax elimination
• By 2015, the corporate tax is reduced to 6%
• Repeals several corporate income tax credits

As a first step, this is great news!

Still, we have a long way to go before we can proclaim that North Carolina is “Open for Business”.

I have good news for the new committee to study eliminating the income tax:

“WE’VE DONE YOUR WORK FOR YOU! IT’S SITTING ON YOUR DESK!”

On the off chance that you haven’t yet seen our work, here’s a quick update:

We produced a study that shows the way forward on tax reform – here it is.

We came up with a “Response to Critics” to combat the arguments from the left – here it is.

And we have a growing petition movement to eliminate the income tax – here it is.

The research is done and the groundwork has been laid for reform. And North Carolina is controlled by conservatives in every office that counts!

I applaud the legislature and Sen. Rucho’s first step. But I need you to help me remind them that:

The time for reform is now!

The research is already done!

And we’re tired of waiting for growth and opportunity in North Carolina – We have to make it happen!

Sign our petition to Repeal the Income Tax here.

I’m looking forward to more good news out of the legislature – and soon!

Semper Fi,

Francis X. De Luca
Col. USMCR (Ret)
President

P.S. We haven’t gotten exactly what we wanted yet, but this is a good sign of what’s to come. I am going to continue to educate the legislature on tax reform and make sure they know the best way forward. I need your help to remind them how much we need this reform! Please go to www.noincometaxnc.org, and sign the petition to repeal the income tax, send this email around to your friends, and get them to sign it too. If the electorate shows it’s officials that it wants reform, we will get it!