Better Jobs: A Sounder Tax Policy and Regulatory Reform
We need across-the-board tax relief for small businesses in North Carolina, not special incentive deals for the favored few. With the highest combined tax rate in the Southeast we are at a competitive disadvantage with our neighboring states. This has an adverse impact on small businesses, family budgets and is damaging to economic development. It's time to cut government waste and to invest in education and infrastructure. In addition, I propose accelerated depreciation for technology purchases, and expanding Community College programs to up-skill and retrain workers. A high quality education is fundamental to increasing our productivity and ensuring North Carolina has a competitive edge in the global economy. We must drastically reduce the appalling high school drop-out rate; focus on the state's infrastructure including roads, water and power; and establish an economic environment which rewards innovation and encourages capital investment. In 2007, I introduced HB 1997, the Economic Impact/Regulatory Legislation act which would require the General Assembly to assess the costs and benefits of regulatory proposals on businesses and consumers before new laws are passed.