Posts by CFB Staff
State tax collections spike, opening door for tax-relief measure
by Dallas Woodhouse, Carolina Journal News Service RALEIGH — North Carolina has collected more than $6 billion in state taxes than was originally forecast in May 2020 by state economists. That’s the finding of a report presented to members of the Joint Full Chairs Appropriations Finance Committee by the nonpartisan Fiscal Research Division at the General Assembly…
Read MoreSenate passes sweeping tax cut package with 8 Democrats on board
by John Trump, Carolina Journal News Service RALEIGH — The North Carolina Senate passed a Republican-led tax reform package Wednesday evening in a quick, 36-14 vote that drew eight Democrats to cross the aisle and vote in favor of the bill. House Bill 334 would raise the standard deduction from $21,500 to $25,500 for joint filers, which…
Read MoreOPINION: Cutting Corporate Tax Helps Consumers
by John Hood RALEIGH — With negotiators for the North Carolina House and Senate confirming that they’ve agreed on the broad outlines of a state budget for next year, the prospect of ending the state’s 2.5% corporate income tax is one step closer to becoming reality. A phase-out is already in the Senate’s budget plan,…
Read MoreNorth Carolina legislative chambers agree to spending amount
By John Trump Carolina Journal News Service RALEIGH — With the end of the state’s fiscal year just three weeks away, the N.C. House and Senate have reached a deal for the next budget. After weeks of closed negotiations, N.C. Senate and House leaders have agreed to a top-line spending number of $25.7 billion in the first…
Read MoreSenate won’t confirm Cooper’s pick to lead environmental agency
by John Trump, Carolina Journal News Service RALEIGH — North Carolina relies on a single pipeline for its natural gas, making it uniquely vulnerable to disruptions, shortages, and even more nefarious problems. “North Carolina’s future, not to mention lights, heat, and air conditioning in millions of homes, is at risk because of the state’s full reliance on…
Read MoreOPINION: Will Hybrids Drive the Economy?
by John Hood RALEIGH — Plenty of politicians, planners, and business folks think they know what North Carolina’s post-pandemic economy will look like. But few seem entirely sure. They are noticeably hedging their predictions, which I consider to be a wise precaution. They ought to be hedging their bets, as well. There are unanswered questions…
Read MoreOPINION: Unemployment News Isn’t So Rosy
by John Hood RALEIGH — The latest estimates from the Bureau of Labor Statistics show about 251,000 North Carolinians unemployed as of April, down about 58,000 since the beginning of 2021. Alas, the news about our labor market isn’t as good as you might think. Of those 58,000 fewer unemployed North Carolinians, some 31,000 actually…
Read MoreEnergy leaders, experts say N.C. too reliant on Colonial, Transco pipelines
by David Bass, Carolina Journal News Service RALEIGH — North Carolina remains vulnerable to fuel shortages because it’s too reliant on a pair of pipelines for gas and energy, industry leaders and experts told lawmakers. The point is made even more crucial because of a recent rise in both the number and sophistication of cyberattacks, such as…
Read MoreBill that helps N.C. distillers clears House, heads to Senate
by John Trump, Carolina Journal News Service RALEIGH — A bill advancing decades’ long work to reform the state’s liquor monopoly passed in the N.C. House and heads now to the Senate. House Bill 890 is an all-encompassing measure that, basically, helps distillers to succeed in a crowded, growing, and competitive industry. It also works to level…
Read MoreOPINION: Race Theory Is Dangerous Nonsense
RALEIGH — According to the U.S. Census Bureau, Americans of Filipino descent had a median household income of just over $100,000 in 2019. The median household income of white Americans that year was about $66,000. Based on these two facts, should we conclude that our society is pervasively biased in favor of Filipino immigrants, or…
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