Scheduled tax cuts will slash NC revenue that could be used for public schools
Estimated annual revenue loss in Fiscal Year 2030-31 from reducing state personal income tax to 2.49% and corporate income tax to 0%, compared to the estimated annual costs of fully funding the Leandro Plan
Tax cuts in the N.C. Senate's budget plan would slash state revenue that could be used for public schools. Two bars in a chart show that the revenue loss from cutting NC income tax rate to 2.49% would be $7.6 billion, compared to the $6.9 billion needed to fully fund the education Leandro Plan and raise teacher pay.
