24-02-2025
NC House Democrats want to bring back an earned income tax credit
RALEIGH, N.C. (WNCN) — North Carolina House Democrats are trying to get more money into the hands of people who need it across the state with an earned income tax credit.
'We need to be thinking of creative ways to implement tax cuts that are actually helping the people that need to be helped,' Representative Lindsey Prather said.
She's one of the sponsors on House Bill 181, an act to bring back an earned income tax credit to North Carolina. It would put money in the pockets of people who earn an income from working and even more money if they have children.
The state hasn't had this tax break since 2014.
'We know that people across North Carolina are struggling, and we know that our state can handle a tax credit like this. It is something that given a short period of time would really stimulate our economy,' Representative Prather said.
Similar bills have been introduced in the past with Republican leadership in the General Assembly saying the state can't afford this, and people don't need tax cuts but rather good paying jobs.
'All that is is an excuse to then pivot to talk about companies and corporations and how to bring businesses in instead of focusing the argument on the people that are being impacted day to day,' Representative Prather said.
Sponsors of the bill say they're also looking to protect tax paying citizens right now as some tax breaks for corporations could be on the horizon.
'Republican leadership in the North Carolina legislature have enacted a plan that is going to bring our state corporate income tax rate down to zero by 2030 and that's causing huge concerns,' Representative Prather explained.
Since the bill was only filed on Monday, it hasn't been referred to a hearing yet.
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