February 21, 2001
The NC Budget & Tax Center’s comprehensive revenue reform plan covers how best to modernize North Carolina’s outdated revenue system, which was built for a 1930s economy, while maintaining funding for vital public investments that fuel prosperity.
The plan outlines how North Carolina can create a modern revenue system that improves long-term adequacy, minimizes volatility and ensures equity so that the state can invest in North Carolina’s shared prosperity. The significant flaws of the current revenue system undermine the state’s ability to fulfill its mission and support the economic recovery. Research shows that revenue reform can improve the economy’s ability to grow and innovate in the long term. Revenue reform can minimize the devastating impact of a cuts-only approach to the budget shortfall and set North Carolina on a path to economic recovery.