Monday, August 2, 2021


Hundreds of thousands of Medi-Cal recipients are paying monthly premiums when they donít have to; Dr. Fauci predicts the pandemic will get worse.


The Texas voting rights fight gets star power; lawmakers stage a sit-in as the eviction moratorium expires; and Senators work overtime on infrastructure.

Report: NC Lawmakers Leaving Millions on the Table


Monday, May 16, 2016   

RALEIGH, N.C. – As much as $170 million a year could go a long way when it comes to paying North Carolina's teachers, improving state infrastructure and economic development, but it's money the state passed on when it eliminated the estate tax.

The tax was done away with three years ago, and according to a new report from the Center on Budget and Policy Priorities, North Carolina is missing out on $100 million to $170 million in revenue for public investments.

"It contributes to the upside down nature of the state's tax system in which the wealthiest here in the state pay a smaller share of their income in state and local taxes compared to low and middle income taxpayers here in the state," points out Cedric Johnson, a public policy analyst with North Carolina Budget and Tax Center.

Johnson points out the estate tax only impacted inheritances of more than $5.25 million.

The report says 23 people benefited from the cut in the first year.

Supporters of the tax break say it boosts economic growth and investment, but opponents note that states choosing to drop the tax are often facing higher tuition at public colleges, cutbacks in teachers and deteriorating infrastructure.

Nationwide, just over 2 percent of estates pay estate taxes because of the value of the inheritance.

Johnson says even those who benefit from the cut need to think of the bigger picture.

"We all benefit when the state as a whole is doing well and when we're foregoing opportunities to strengthen these public services because we don't have the revenue to do so, in the end, we all hurt," he stresses.

President George W. Bush’s administration phased on the federal estate tax in 2001, and state estate taxes also were eliminated unless states chose to retain the tax.

get more stories like this via email

Some tenants' advocates would like Virginia's new budget proposal for American Rescue Plan funding to include money for low-income renters to hire lawyers for eviction cases. (Adobe stock)

Social Issues

RICHMOND, Va. - Virginia's General Assembly Special Session begins today to budget more than $4 billion in federal COVID relief funds, and advocates …

Social Issues

ROSLINDALE, Mass. - A new report finds Massachusetts residents would rather repair electronic devices than send them to landfills, but manufacturers …

Social Issues

DENVER-During the COVID health emergency, the federal government made school meals available for free to all students, regardless of their financial …

The Blackfeet Reservation is one of seven tribal reservations in Montana. (Kushnirov Avraham/Adobe Stock)

Social Issues

HELENA, Mont. - COVID-19 is underscoring the importance of ensuring that people's estates are in order, but estate planning can be be tricky for …

Social Issues

ALBUQUERQUE, N.M. - Pandemic fallout still has U.S. states clawing their way back to normalcy, and New Mexico believes its decision to provide more …

In a new poll, 64% of New Hampshire voters said they think capital gains should be taxed at the same rate as income from wages; 56% support increasing the corporate tax rate to 28%. (Vitalii Vodolazskyi/Adobe Stock)

Social Issues

CONCORD, N.H. - New polling finds many New Hampshire voters think it's important that wealthy individuals and corporations pay what's described as …

Social Issues

AMARILLO, Texas - The American Farm Bureau Federation hosts more than 100 college level chapters across 35 states, but this is the first time its …

Social Issues

ELIZABETH CITY, N.C. - As activists mark more than 100 days of protest since the April 21 death of Andrew Brown Junior - killed outside his Elizabeth …


Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member and audience-supported news source since 1996 Copyright © 2021