NC Senate tax plan would worsen racial inequities in North Carolina

Share of tax filers and share of tax cuts by race from personal income tax rate cut proposed in the N.C. Senate Budget.

Share of tax filers and share of tax cuts by race from personal income tax rate cut proposed in the N.C. Senate Budget.

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The Senate Budget proposes reducing the personal income tax rate to 2.49 percent by 2029. The chart shows the change from a 4.75 percent rate (the rate in 2023) to 2.49 percent

Chart: NC Budget & Tax Center Source: Special Data Request to Institute on Taxation and Economic Policy, Received May 23, 2023 Get the data Embed