Corporate Tax

Monday’s figures: New polls present NC voters need to hold corporate tax and spend federal assist cash on core companies

Last month, the North Carolina Senate passed bill that would abolish state corporation tax for five years from 2024.

However, new polls released last week by the progressive political group State Innovation Exchange (SiX) show that North Carolina voters overwhelmingly oppose such a change. The poll also looked at areas where North Carolina voters believe the state should invest its profits: the $ 5.4 billion in federal funding the state received through the US bailout, and a over $ 7 billion in unreserved cash.

“The poll shows that people want to see this money put into schools, streets and many other good things that help the working people,” said Lazarus. “They don’t want a corporate tax cut.”

TargetSmart, the company that conducted the survey, conducted similar surveys in Pennsylvania, Michigan, and Minnesota. Ben Lazarus, director of research solutions for the company, said the poll on the matter appears to be consistent across states.

“It’s one of those rare circumstances where there are really bad politics and really bad politics,” Lazarus said.

This week, the issue from recent polls is looked at by numbers.

(Sources: Statewide Polling from State Innovation Exchange. The survey results, including methodological information, can be found here.)

66 Percentage of respondents who said they disagree with a proposal to completely abolish state income tax on the profits of companies operating in North Carolina.

This view has been held across the political spectrum with hero 59% the Republicans who oppose the change, 74% the Democrats and 58% of independents.

Of those who voted for Donald Trump in the 2020 presidential election, 58% opposed the change. Among the supporters of President Joe Biden, 76% were opposed.

58 Percentage of Respondents Who Said American Rescue Plan funding should be used for “new investments in families and businesses in North Carolina,” rather than “existing state budget obligations and tax elimination for businesses operating in North Carolina Make transactions”. This number was higher for those living in rural areas (59%) and for blacks (76%).

55 – Percentage of respondents who said the state should use available funds to invest in “teacher salaries and building an educator pipeline for public schools in North Carolina.” This figure was almost the same for rural respondents (54%) and much higher for black respondents (75%).

55 – Percentage of respondents who said the state should use available funds to “invest in public school infrastructure to repair old schools and build new ones”. The number was the same for rural respondents and higher for black respondents (75%)

52 – Percentage of respondents who said the government should use the resources available to invest in “training, education and support for the workforce”. The number was higher among respondents from rural areas (54%) and among black respondents (71%).

52 – Percentage of respondents who said the state should use available funds to invest in “grants for small businesses in communities hard hit by the pandemic”. The number was higher among respondents in rural areas (54%) and among black respondents (62%).

45 – Percentage of respondents who said the state should use available funds to invest in “water and sanitation infrastructure”. The number was the same for rural respondents and higher for black respondents (57%).

40 – Percentage of respondents who said the government should use available funds to invest in “broadband access and affordability”. This number was lower for rural respondents (36%) and higher for black respondents (54%).

47 Percentage of respondents who say state lawmakers should plan to pay for all these types of investments in future government budgets, rather than just doing it with one-off federal funding. This number was the same for rural respondents and high for black respondents (64%).

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