Strategies for Helping Low-Income Taxpayers - Comparing a No-Tax Floor to a State EITC


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NC Budget and Tax Center Report:

Strategies for Helping Low-Income Taxpayers - Comparing a No-Tax Floor to a State EITC

Governor Michael Easley's recommended state budget set aside $63 million to reduce the income taxes paid by low-income taxpayers to be delivered through a "no-tax floor" plan. In fact, hundreds of thousands of the proposed 1.2 million taxpayers his plan claims to help already pay no income tax and would see no new benefit. In addition to not benefiting very low-income taxpayers, the governor's "no-tax floor" also has numerous design flaws that make it inferior to a state EITC.

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