Budget, Taxation & Economy
Budget, Taxation & Economy
At the state legislature, Locke advocates for limiting the expenditure of tax dollars and strictly limiting its tax burdens on families and businesses.
Budget, Taxation & Economy
March Jobs Report: Decreasing Unemployment, But Concerns Lie Beneath the Surface
North Carolina’s unemployment rate dropped to 3.5% in March according to the latest release from the North Carolina Department of Commerce. This is lower than February’s revised rate of 3.6%, yet 0.2…
Budget, Taxation & Economy
Covid Funding Again Found to Lack Oversight
A new report from the State Auditor’s office found that the state failed to properly oversee federal Covid-19 spending money. The recent audit didn’t find “misspending,” but it did find that the…
Budget, Taxation & Economy
Ten Years Ago: Ended False Promises
In 2013, the new General Assembly held the sales tax at 4.75%, while expanding the base. Consumption-based taxes like the sales tax are more stable and less economically destructive than…
Budget, Taxation & Economy
Ten Years Ago: Higher Wages and More Jobs
In 2013, the new Republican-led General Assembly took steps to foster economic growth by lowering the state’s corporate income tax rate. The corporate income tax is a burden that ultimately…
Budget, Taxation & Economy
Ten Years Ago: More Money in Your Pockets
Ten years ago, in July of 2013, the Republican-led General Assembly enacted historic tax reforms. Perhaps most notably, lawmakers overhauled the state’s personal income tax, moving from a progressive multi-tiered…
Budget, Taxation & Economy
North Carolina Ranks 2nd Best in Economic Outlook, 10th Best in Economic Performance, in New National Report
The American Legislative Exchange Council (ALEC), along with Dr. Arthur B. Laffer, just released their 2023 annual report of Rich States, Poor States. North Carolina ranks 2nd best in the “economic…
Budget, Taxation & Economy
Inflation Didn’t Let Up in March
The Consumer Price Index (CPI) rose 0.1% in March after increasing 0.4% in February according to the latest release from the Bureau of Labor Statistics. On an annual basis, prices have increased 5.0%. Headlines proclaim inflation…
Research Brief
Budget, Taxation & Economy
Three Areas of Pension Risk — and Reform
Pension plans for state government retirees are strained. ESG funding in pension plans prioritizes “woke” values over return on investments, while exposure to China stocks has some fund managers worried.…
Budget, Taxation & Economy
And, What about All that Federal Covid Money?
As federal funding to schools for covid relief is entering its last phase, a lot of people are beginning to ask the question: What difference has $172 billion made for…
Budget, Taxation & Economy
NC Senate Files Bill Proposing Significant Tax Relief
The NC Senate signaled their intentions Wednesday to aggressively lower the state’s personal income tax rate. The current year’s tax rate is 4.75% with decreases scheduled that would bring it…
Budget, Taxation & Economy
Local Jobs Report: Decreasing Unemployment Yet Labor Force Participation Also in Decline
The monthly local jobs report reveals unemployment rates and related economic indicators at the county level. The local jobs report for February released Wednesday shows unemployment rates decreased in 74 counties, increased…
Budget, Taxation & Economy
N.C. House Budget Would Increase K-12 Spending, Raise Teacher Pay, and Expand School Choice
Last Wednesday, North Carolina House leadership released a biennial budget proposal that over the next two years would, among other things, increase spending on public schools, raise average teacher pay…