Fitzsimon File

Monday numbers

FF-leg_numbers

475 million—amount in dollars of the original estimate of the cost in the current tax year of the tax reductions passed in 2013 (“State tax cut costs ballooning,” WRAL-TV, July 25, 2014)

4—number of days since the Fiscal Research Division of the General Assembly issued a memo revising the estimate of the cost of the tax cuts (N.C. General Assembly Fiscal Research Division Memo, July 24, 2014)

680 million—amount in dollars of the revised estimate of the cost of the 2013 state tax cuts for the 2014 tax year (Ibid)

43—percentage increase in the cost of the tax cuts in the 2014 over original estimates (Ibid)

205 million—amount in dollars of the increase in the cost of tax cuts for the 2014 tax year (Ibid)

265 million—amount in dollars of the cost of a seven percent pay raise for teachers included in a recent House budget offer (“State tax cut costs ballooning,” WRAL-TV,  July 25, 2014)

690 million—amount in dollars of the original cost of the 2013 tax cuts in the 2015 tax year (Ibid)

890 million—amount in dollars of the revised estimate of the cost of the 2013 tax cuts in the 2015 tax year (Ibid)

66—percentage of tax cut passed by the 2013 General Assembly that will go to the wealthiest one percent of North Carolinians (“Final tax plan pits at risk what makes North Carolina great,” N.C. Budget & Tax Center, August, 2013)

940,000—amount in dollars of annual income of wealthiest one percent of North Carolinians (Ibid)

374 million—amount in dollars of the cost over four years of lowering the corporate income tax that was part of the 2013 tax plan (Ibid)

8—percentage of North Carolina businesses that are subject to the corporate income tax (Ibid)

 

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