NC Senate’s tax-cut plan gets initial approval by chamber

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North Carolina General Assembly

RALEIGH, NC (AP) — The tax-cut package endorsed by North Carolina Senate Republicans has received initial approval with the support of some Democrats.

Eight Democrats joined all Republicans in voting for the measure Wednesday.

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The bill would reduce the individual income tax rate, increase the standard and per-child deductions and phase out the corporate income tax by 2028. And there would be $1 billion in federal aid for businesses and nonprofits that struggled during the pandemic.

Some Democrats opposing the measure say it would still help out-of-state corporations and the highest wage earners. One more affirmative Senate vote is needed before the bill goes to the House.

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