RALEIGH: McCrory says tax overhaul will create jobs - WNCN: News, Weather

McCrory says tax overhaul will create jobs, attract business to NC

Posted: Updated:
McCrory said the changes were necessary to create jobs and attract businesses to North Carolina in a competitive environment. McCrory said the changes were necessary to create jobs and attract businesses to North Carolina in a competitive environment.
RALEIGH, N.C. -

Tax day is becoming increasingly political in North Carolina, and conservatives on Tuesday used the day to praise their major tax overhaul while critics said it will burden the middle and lower classes.

At a news conference, Gov. Pat McCrory said, “Today marked the last time North Carolina would use an outdated tax code.”

McCrory said most families and businesses can plan on having more money in their pockets.

“Ultimately, it's about North Carolinians keeping more, keeping more of their hard-earned money, in their paycheck, so they can buy, save and invest more for their families,” McCrory said.

McCrory said the changes were necessary to create jobs and attract businesses to North Carolina in a competitive environment.

The new changes don't affect most state individual tax returns turned in Tuesday.

But for next year, there will be reduced income and corporate income tax rates.

The reform also increases standard deductions.

But critics say the cutting of certain tax credits and tax-free weekends will unfairly burden middle- and low-income families.

Melea Rose-Waters of NC Moms Rising said, "Items that they have been putting off that they need to buy for their families, they can do that with an earned income tax credit."

Democrats also spoke out against the tax overhaul, saying cutting the earned income tax credit and tax-free weekends will put a burden on the middle and lower-income families.

Copyright 2014 WNCN. All rights reserved.


Sean Maroney

Sean anchors WNCN News at 6, 7 & 11 PM. Raised in North Carolina, he returns home after nearly a decade reporting around the world. Each night, he brings his love of this community and powerful journalism into our newsroom and your home.

More>>

Powered by WorldNow

1205 Front St., Raleigh
N.C., 27609

Telephone: 919.836.1717
Fax: 919.836.1687
Email: newstips@wncn.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.