Plain English Summary
This bill repeals a 2021 law that was gradually phasing out North Carolina's corporate income tax. By repealing the phaseout, the bill would maintain the current corporate income tax rate instead of allowing it to continue declining toward zero.
Arguments in Favor
Supporters argue this bill protects state revenue needed for schools, roads, healthcare, and other public services. They contend that corporations should pay their fair share of taxes to fund the infrastructure and educated workforce they depend on, and that a phaseout would shift the tax burden onto individual taxpayers and small businesses that cannot easily relocate.
Arguments Against
Opponents argue that lower corporate taxes encourage business investment, job creation, and economic growth in North Carolina. They contend that the original phaseout was a pro-growth policy that made the state more competitive with other states, and that repealing it could discourage companies from locating or expanding operations in North Carolina.
AI-generated analysis based on bill text. Always verify with official sources at ncleg.gov. This is not legal or political advice.
Sponsors
Primary Sponsor
Representative · District 18
Primary Sponsor
Representative · District 41
Primary Sponsor
Representative · District 30
Primary Sponsor
Representative · District 50
Cosponsors (8)
Representative · District 115
Representative · District 49
Representative · District 36
Representative · District 61
Representative · District 66
Representative · District 31
Representative · District 57
Representative · District 107