A recent ranking by Business Insider puts North Carolina in the top 10 states for wage growth in 2017, and it’s clear why: Wages in the state grew at an average rate of 3.8 percent last year.
Since 2011 the North Carolina General Assembly has implemented significant tax reforms that have saved families and businesses billions of dollars. Beginning in 2019, the state’s personal-income tax rate will drop from 5.499 percent to 5.25 percent, and the standard deduction will increase to $20,000 for married couples filing jointly, up from $17,500.
These tax cuts benefit regular people working hard to make a living. Families being able to save or spend their money instead of having it taxed away helps North Carolina’s overall economy. Plus, since February 2017 the number of people employed statewide increased by more than 90,000, and the number of unemployed decreased by more than 17,000.
Top-tier wage and job growth, tax relief and lower unemployment are a winning combination for North Carolina.
REP. TIM MOORE
Speaker of the House