NC House gives its final tax overhaul OK
RALEIGH, N.C. (AP) - The House has completed its approval of a tax code overhaul written by Republicans. The measure now heads to Senate Republicans, who want more dramatic changes to North Carolina's tax system.
The House voted 75-37 on Monday evening to lower individual and corporate income taxes. The legislation also adds to the type of transactions subject to the sales tax. The bill received tentative approval late last week.
Bill co-sponsor Rep. John Szoka of Fayetteville called the bill an "awesome" step in the process of tax reform. He says the measure will reward hard work and show that businesses are welcome in the state.
Democratic Rep. Nathan Baskerville of Henderson called the legislation a tax break for millionaires that would increase the tax burden on working families.