Legislators Descend On Raleigh Today, So What Should They Do?

Time to get down to business in the state legislature today.

Gavels in both the House and the Senate are set to fall at noon as the General Assembly begins its 2013 session in earnest.

Gone is the ceremonial first day, when lawmakers trekked to the state capital three weeks early to elect their leadership and take care of perfunctory ceremonial duties.

Now, the real work begins, with legislators prepared to tackle a $20 billion general fund budget, reform the tax code, and push through new election laws that are almost certain to include a photo identification requirement to cast a ballot. 

Also expect efforts to reform the state’s educational system in a way that focuses on technical education and more options for parents and local schools. Mix in further regulatory reform and you’ll have a good preview of what to expect out of Raleigh by the time lawmakers adjourn, likely around the middle of the year.

“We’re going to continue to focus on I believe policies that are going to help us grow the economy and hopefully continue a positive path toward economic recovery in the state,” second-term House Speaker Thom Tillis, R-Mecklenburg, said at a Tuesday press conference.

 

The John Locke Foundation has published an excellent roadmap for defenders of liberty and reform-minded legislators to follow, in a new book called First in Freedom.

The key element of JLF’s tax proposal involves abolishing North Carolina’s existing personal and corporate income taxes, sales tax, and estate tax, and replacing them with a single-rate consumed-income tax. It’s dubbed the Unlimited Savings Allowance, or USA, Tax.

Researchers from Suffolk University’s Beacon Hill Institute have studied the likely economic impact. “They estimate that taking this approach to tax reform would increase North Carolina’s gross domestic product by over $11.76 billion in the first year and by almost $13 billion after four years with an immediate first-year increase in employment of 80,500 jobs and an employment increase of 89,000 jobs by 2017,” said Dr. Roy Cordato, JLF Vice President for Research and Resident Scholar.