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Thursday, May 23, 2024

Local rep introduces bill to lower state income taxes

(Port City Daily/file photo).

Sen. Bill Rabon (R-Brunswick) introduced a bill to lower North Carolinians’ income taxes every year through 2027 in the General Assembly earlier this week.

While the state’s income tax rate is already planned to reduce to 3.99% in 2027, Senate Bill 651: Tax Relief for All, would decrease the rate by even more. The bill would go into effect immediately upon passage and lower the 2023 state income tax from 4.75% to 4.5%. The next year, it would reduce to 3.99%, then 3.49%, then 2.99%, to 2.49% in 2027 and after.

Sen. Rabon did not respond to a request for comment before press.

The bill was introduced on April 5 and has been referred to the Senate finance committee. Its 25 other sponsors include Michael Lee (R-New Hanover), Brent Jackson (R-Pender, Bladen, Jones, Duplin, Sampson) and Senate President Pro Tempore Phil Berger (R-Guilford, Rockingham).

If every sponsor voted for the bill, the bill has enough votes to pass a the Senate.

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