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Far-reaching Senate tax plan closes loopholes, adds sales taxes
Story Date: 5/31/2013
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Source: Dan Kane and John Frank, NEWS & OBSERVER, 5/30/13
Senate leaders on Thursday rolled out the most comprehensive proposal to overhaul the state’s tax code, eliminating dozens of loopholes, but also shutting down popular tax breaks on food, mortgage interest payments and prescription drugs that would bring in more than $1 billion in revenue to help reduce income tax rates and the overall sales tax rate.
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