Tax Day 2013: Who Should Pay for Fixing the Debt?

As both houses of Congress continue to debate the next steps in the federal budget, new revenue must be part of the balanced approach to “fixing” the national debt. We all want to “fix the debt” and put our nation’s fiscal house in order, but the real challenge facing our federal policy makers is how we accomplish this goal—and perhaps most importantly, who should pay for deficit reduction.

Six weeks into the beginning of automatic, across-the-board sequestration spending cuts, it’s also never been clearer that without new revenue, middle class North Carolinians will continue to be hit hard by spending cuts to core initiatives like education, job training, and healthcare. The broader economy is also likely to suffer as these cuts erode the foundation of a strong middle class and fail to support the still slow economic recovery.