Democrat Governor Roy Cooper is sending a clear message to workers and businesses across North Carolina that he has zero interest in reducing their tax burden.
WRAL-TV reports that a tax cut that would save North Carolina businesses roughly $140 million by substantially rolling back the state’s franchise tax “has support from key leaders in both General Assembly chambers.” But a spokesman for Cooper has already indicated that the governor is against the bill, making it clear that he does not want to fight for lower taxes on the businesses creating jobs in his state.
North Carolinians deserve a governor who will work tirelessly to improve their state’s business climate and help entrepreneurs to remain competitive in a changing economy. Unfortunately, Roy Cooper doesn’t appear to be up to the task.
A tax cut that would save North Carolina businesses hundreds of millions of dollars has support from key leaders in both General Assembly chambers, a pair of Senate bill sponsors said Thursday.
Senate Bill 622 would roll back the state's franchise tax, gradually cutting it from $1.50 per $1,000 of a company's tax base to $1 for each $1,000.
Sen. Ralph Hise, R-Mitchell, said the bill would cut taxes by about $140 million a year by the second year.
A spokesman for Gov. Roy Cooper indicated the governor was against the bill.
“Businesses need a strong workforce more than they need additional tax breaks for corporations and the wealthy," spokesman Jamal Little said in an email. "To achieve that Governor Cooper would rather invest in higher teacher pay along with stronger public schools, community colleges and universities and he looks forward to real budget negotiations with the legislature.”