LEGISLATIVE BULLETIN: House Tax Package for Businesses Released - More economic incentives won't cure what ails us
June 22, 2010
By Alexandra Forter Sirota
- The NC House voted yesterday on a bill, HB 1973, to provide tax breaks to businesses that locate in the state.
- At an estimated cost of $300 million by 2015, the incentives are an expensive and ineffective way to support the state's economic recovery.
- The most important support to the state's economic recovery is job creation, which many of the economic incentives proposed have failed to generate in the past.
- North Carolina policymakers should consider a Small Business Job Creation grant program and support for entrepreneurship to create jobs and stimulate continued economic growth.