Submitted by Martha Brock on Fri, 05/10/2013 - 1:21pm
From the Fayetteville Observer
By Gary D. Robertson
The Associated Press
RALEIGH - Senate Republicans unveiled details about their long-awaited tax overhaul proposal Tuesday, saying that lower income tax rates and expanding the scope of the sales tax is fair to all, will boost the state's economy and cut taxes for most people. But critics say lower-income people will pay more overall.
The three-year plan would reduce individual and corporate income tax rates as well as cut the combined state and local sales tax that consumers in most counties pay from 6.75 percent to 6.5 percent. The plan would eliminate the estate tax.
But the overhaul would make North Carolina's sales tax base one of the broadest in the country by eliminating exemptions and expanding it to apply to most services
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