Bill Decreasing Maximum Income Tax Rate To 7% Gains Approval, Placed On November Ballot
Earlier today, Senate Bill 75, a constitutional amendment decreasing the maximum income tax rate from 10% to 7% and providing that the amount cannot exceed 7% in the future, gained final approval in both the House and Senate this afternoon and will be placed on the November ballot for voters statewide.
The maximum tax rate in the original Senate bill was capped at 5.5% but was changed to 7% during House discussion. Due to the change, the bill had to be sent to the Senate for concurrence, which easily passed earlier this afternoon.
While there seemed to be a lot of support for the bill, it has also seen some pushback from several members of the General Assembly and many education advocates.
House minority leader, Rep. Darren Jackson (D-Wake), spoke up in session against the bill by referring to the deficit in Washington D.C. "They could shift things down to the state to pay for it," Jackson said. "This takes one of our options off the table.”
In addition, the following other constitutional amendments have gained full General Assembly approval and will also be placed on the November ballot for voters:
H551 – (Session Law 2018-110) Strengthening Victim’s Rights
S677 – (Session Law 2018-96) Protect the Right to Hunt and Fish
H913 – (Session Law 2018-117) Bipartisan Ethics and Elections Enforcement.
Some additional constitutional amendments are still working their way through the General Assembly and are likely to be placed on the November ballot for statewide voter approval. Those include: