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North Carolina House Passes $31.6 Million Tax Cut Package
The Democratic majority approved a five year tax relief package totaling 31.6 million dollars. It expands a 100 percent inventory tax credit for manufacturers and retailers toward state income tax, raises personal exemptions for low income and senior citizens, and faced an uncertain Senate fate. The measure passed 77 to 35 after amendments reducing cost and adding a poverty exemption.
MENTIONED IN THIS ARTICLE
Robert B. Cullen
Associated Press
Raleigh, N.C
North Carolina House
Jim Holshouser
Senate
James E. Ramsey