Source: Richard Craver, WINSTON-SALEM JOURNAL, 5/28/19


State Republican Senate leaders are trying to increase the odds that an intensely debated tax-reduction bill will clear the legislature. The Senate budget proposal, unveiled Tuesday, would lower the state’s franchise-tax rate as part of an overall economic development and recruitment initiative. The franchise tax language is a key part of Senate Bill 622, along with another increase in the standard state deduction for taxpayers. SB622 cleared the chamber by a 27-13 vote May 20. That bill’s fate in the House is unclear, which is likely why GOP Senate leadership tucked it into the state budget proposal.

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