More on Tax Reform
"North Carolina families are winning again and we want to continue the momentum. Tax Reform 2.0 will provide our families and local employers more certainty, solidifying lower taxes, a permanent doubling of the Child Tax Credit and the first-ever Paid Family Leave Credit, while lowering the share of the tax burden for middle-income workers and raising it for millionaires."
Looking at the MTB petitions that make up the Miscellaneous Tariff Bill (MTB) Act of 2018, one thing is clear, North Carolina is a big winner. Of those 333 petitions, 19.75%, are manufacturers in North Carolina, more than any other state. That represents a savings of $71 million in 2018, also the most in the nation.
"Whether it is Japanese companies laying roots in Lee County, or national brands making significant investments in east Greensboro, it’s clear that our economy is roaring back and creating new opportunities for our families. While we still have far to go, we are restoring the chance of the American Dream."
Thanks to tax reform, Advanced Superabrasives of Mars Hill, North Carolina, is creating high-paying jobs, investing in workforce training and growing its operations. But what’s even more impressive is it has already given many of the 43 employees not just one, not just two, but three pay raises in 2018.
July 27, 2018 Press Release
Looking at the MTB petitions that make up the Miscellaneous Tariff Bill (MTB) Act of 2018, one thing is clear, North Carolina is a big winner.
July 25, 2018 Press Release
The House passes H.R. 6199, the Restoring Access to Medication and Modernizing Health Savings Accounts Act, to provide relief from Obamacare's tax on over-the-counter medications and modernize HSAs, as well as H.R. 6311, the Increasing Access to Lower Premium Plans and Expanding Health Savings Accounts Act, to expand access and use of HSAs and lower premiums on health care plans.
July 24, 2018 Press Release
The House passes H.R. 184, the Protect Medical Innovation Act, to repeal the excise tax on the sale of a medical device by a manufacturer, producer, or importer.
The Lessening Impediments From Taxes (LIFT) for Charities Act eliminates a measure that requires charities, churches, and traditionally tax-exempt organizations to pay federal taxes on employee benefits.
April 18, 2018 Press Release
"The bureaucratic failures of the IRS were on full display yesterday as they were unable to perform even a basic duty on their most critical day of the year. Another way the IRS is failing North Carolina taxpayers is with lack of accountability. Run for almost a decade by Commissioners who spent more time misleading Congress and attempting to bury scandals than they did serving Americans, the IRS has operated under a different set of rules than what they expect from taxpayers. The Ditto Act forces accountability on the IRS and ensures that they are working under the same rules as the people and businesses of North Carolina."
January 30, 2018 Press Release
Tonight, you’ve heard how we are working with the new Administration to deliver on our promises and build a safe, strong and proud America. After eight years of the weakest economic growth in a century, we are now answering back with the strongest legislative record in decades.