Issue Position: Taxes

Issue Position

In the state legislature, Thom led a massive tax reform effort that lowered personal income tax for every single North Carolinian and cut business taxes by more than $2.4 billion over the next five years. Thom helped eliminate the existing three-tiered tax bracket system and cut the income tax rate in North Carolina down to a flat, fair 5.8% for 2014 and 5.75% for 2015. In 2011, Thom led the effort to cut taxes by $1.5 billion by allowing Kay Hagan's tax increases to expire. Thom knows that lower taxes are vital for economic growth and prosperity and he is the only candidate with a proven record of lowering taxes.

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