by Joseph Coletti
Senior Fellow, Fiscal Studies, John Locke Foundation
North Carolina’s record of spending restraint and tax reform over the past decade continues to inspire other states and demonstrate what is possible. John Hendrickson and Jonathan Williams, writing in the Des Moines Register, urge Iowa Gov. Kim Reynolds to follow our example of sustainable spending and taxes.
North Carolina is the gold standard for pro-growth tax reform and has demonstrated that keeping spending levels limited while reducing tax burdens on hardworking taxpayers can lead to greater economic growth and the ability for taxpayers to keep more of their income. In the case of North Carolina, the prosperity that followed tax cuts actually led to multiple rounds of pay raises for public school teachers across the state. “The supply-side effects of fiscal policy are real, but they don’t negate the need for spending discipline,” wrote John Hood, who serves as Chairman of the John Locke Foundation.