Harris Teeter had filet mignon steaks for $11 apiece the other day. You can buy almost 30 of them with the savings the conservative Senate majority wants to provide your family on state income taxes.
Their new billion dollar middle class tax cut plan raises the standard deduction by making the first $20,000 of family income tax-free. Their plan cuts tax rates, gives middle class families a $2,500 tax deduction for each child and helps homeowners with higher deductions for mortgage interest and property tax. And it eliminates the unfair tax code provisions that force a couple to pay higher taxes just for getting married – the marriage tax penalty.
An average-income family will see its effective tax rate reduced 14%. Combined with previous tax cuts enacted by the conservative majority, the average income family will save $318 a year in taxes if the new reform passes. Saving money year after year.
$318 a year in taxes saved. That’s seven tanks of gas. Three years of Amazon Prime free shipping. Almost three months on your electric bill. A nice TV. Tutoring videos for the kids. Or those steaks.
Governor Cooper wants a billion dollar spending increase.
Senate reformers are fighting for the billion dollar middle class tax cut plan.
Who should spend your money? You or the government.