(AP) — Senate Republicans are putting their best foot forward on an overhaul of North Carolina's tax code that will reduce tax rates but also will mean more services will be subject to the sales tax.
Senate leader Phil Berger and the two Senate Finance Committee chairmen scheduled a news conference Tuesday afternoon to discuss their proposed "North Carolina Tax Fairness Act." No bill has yet been filed, but Berger released a video Monday night describing broad themes and highlights of the plan.
Berger calls the plan "the largest tax cut in state history" of more than $1 billion that will occur through lower individual and corporate income tax rates and a lower sales tax. The Eden attorney acknowledges the sales tax will be expanded but says it will be fairer.