Federal Budget & Tax

JUST RELEASED: Budget Proposals from Congress Cut Core Support for NC Families

Food assistance to vulnerable communities would be slashed deeply under budget resolutions that the US House and Senate budget committees approved last week. The cuts would likely increase hunger, thrust more people into poverty, and push families that are poor even deeper into poverty. Considering that North Carolina has the 5th highest level of food insecurity in the nation, the proposals would deliver a huge blow to North Carolinians living paycheck to paycheck and struggling to provide food for their families.  Nearly $ 7 out of every $10 in cuts proposed will hit low-income and poor families hardest.  Check out our blog post here.

IN FOCUS: Three-Month Time Limit for SNAP

The Center on Budget & Policy Priorities reports that: “Roughly 1 million of the nation’s poorest people will be cut off SNAP (formerly known as the Food Stamp Program) over the course of 2016, due to the return in many areas of a three-month limit on SNAP benefits for unemployed adults aged 18-50 who aren’t disabled or raising minor children.  These individuals will lose their food assistance benefits after three months regardless of how hard they are looking for work.”  Check out more here.

ABOUT OUR FEDERAL BUDGET & TAX WORK

State level decisions are often impacted by what is going on at the federal level.  Particularly important in the current federal debate with significant implications for North Carolina are discussions of deficit reduction and tax policy, most specifically the Bush Tax Breaks. 

Federal Tax Policy – The country, like the state, is in need of revenue reform that can improve the alignment of the tax system with ability to pay and ensure that investments can be made to support the economic recovery and a strong economy moving forward.  Key to progressive federal revenue reform will be eliminating the Bush-era tax cuts for those earning more than $250,000. The Budget and Tax Center analyzes the federal tax system, its progressivity and adequacy, and how it impacts North Carolinians.

Deficit Reduction – Deficit reduction has been a significant part of the public debate in recent years.  The Budget and Tax Center analyzes deficit reduction proposals with an eye to their impact on North Carolina and communicates with and informs partners and North Carolinians about the importance of these federal discussions to their everyday lives.