Jennifer Balkcom Said She Supported Eliminating The State Income Tax And Replacing It With A Sales Tax, Which Would Increase The Tax Burden On Working Families

Balkcom: “I Would Like To See The Complete Elimination Of The Individual Income Tax In North Carolina And A Full Transition To A Consumption Tax.” QUESTION: “What changes, if any, should be made to the tax code?” BALKCOM: “I would like to see the complete elimination of the individual income tax in North Carolina and a full transition to a consumption tax. I also support current legislative action to completely phasing-out North Carolina's corporate tax. On the federal level, I would support a Flat Tax with at least a doubling of the current standard deduction.” [iVoterGuide, Jennifer Balkcom, 2022]

• Balkcom Said She Supported “Cutting (And Ideally Eliminating) The State Income Tax.” “The Times-News is running answers from both candidates in the race for N.C. House of Representatives District 117. The seat is currently held by Republican Tim Moffitt, who is now in the race for N.C. Senate District 48. Republican Jennifer Balkcom is up against Democrat Michael O’Shea. […] What do you believe is the role of the General Assembly in battling rising inflation? [Balkcom:] We can mitigate some of the pain that inflation is causing us by keeping North Carolina’s economy strong. To do that, we should stay the course with common sense, fiscally conservative policies that help our state’s families and businesses thrive: like cutting (and ideally eliminating) the state income tax, continuing to reduce costly and burdensome regulations on businesses, and other measures that will maintain our top ranking as a business-friendly state.” [BlueRidgeNow, 10/24/22]

Replacing State Income Taxes With A Sales Tax Would Force Lower- And Middle-Income Families To Pay More While High-Income Households Would Pay Less. “In an alarming trend, governors in Louisiana, Nebraska, and North Carolina have proposed eliminating their state’s personal and corporate income taxes and raising the sales tax to offset the lost revenue. […] These proposals would significantly change the distribution of state taxes: lower- and middle-income families would pay more, while businesses and high-income households would pay less. That’s because repealing the income tax would disproportionately benefit high-income families (since they generally face higher tax rates), while a sales tax hike would hit low- and middle-income families the hardest (since they pay a bigger share of their incomes in sales tax than wealthier families do).” [Center on Budget and Policy Priorities, 1/22/13]