Raleigh, N.C. — Republican Senate leaders rolled out a tax plan Thursday that they say will save North Carolina taxpayers $1 billion.
The plan cuts both the individual and corporate tax rate, expands the standard deduction and increases the child tax credit and deductions for mortgage interest and charitable contributions.
Republicans in the House are looking at a less aggressive tax cut, so the two ideas will have to be negotiated.
Gov. Roy Cooper and legislative Democrats said it’s too soon for another tax cut, arguing that the state needs to invest money in education and infrastructure.
Meanwhile, the Senate confirmed two more of Cooper’s cabinet secretaries: Jim Trogdon in the Department of Transportation and Erik Hooks in the Department of Public Safety. The House passed a measure to expand how many teachers can qualify as mentors to their younger colleagues.