MEDIA RELEASE: Forty North Carolinians in the top 5% sign on letter to oppose tax rate cap amendment

The group of signers express deep concern over the proposed income tax rate cap amendment currently on the ballot that would financially benefit the wealthy.

Download the letter (PDF).

 Business owners, investors, and other wealthy North Carolinians have joined a sign-on letter to express deep concern over the proposed tax cap amendment currently on the ballot. The group of 40 signers express concern that, although the tax rate cap would financially benefit the wealthiest in the state, it would limit the state's ability to fund the crucial needs of a growing North Carolina and to respond to future natural disasters and economic downturns. The letter goes on to say that adequate and sustained investment in education, health and well-being, and the environment are paramount to creating a fertile business environment that leads to good jobs and a stronger economy.

"As a North Carolinian with wealth, I know that the income tax cap amendment will not benefit North Carolina, the communities I care about, or even me. The things I care most deeply about -- a thriving public education system, a vibrant community, and a healthy, livable environment -- will all be in danger if this amendment hampers the state's ability to raise funds," said David Roswell of Durham, N.C. "I did not ask for this amendment, and I don't want women, poor and working-class people and people of color to suffer so that my wealth continues to grow."

 "I wouldn't want someone to restrict my personal capacity to respond to future challenges, so I can't imagine why we'd want to do that as a state. This amendment is stunningly short-signed," says Dr. Wayne Riggins of Fayetteville, N.C. 

The letter was organized by United for a Fair Economy, the North Carolina Chapter of Resource Generation, and the North Carolina Justice Center. 

Additional signers can join the letter at this link

FOR MORE INFORMATION, CONTACT Mel Umbarger, Budget & Tax Center Senior Communications Specialist, at mel@ncjustice.org or 919-856-2567.
 
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