North State Journal Vol. 6, Issue 14

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VOLUME 6 ISSUE 14

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WWW.NSJONLINE.COM

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WEDNESDAY, JUNE 2, 2021

the Wednesday

NEWS BRIEFING

Burr, Tillis call on Gov. Cooper to Help NC small businesses Washington, D.C. North Carolina’s U.S. senators, Richard Burr and Thom Tillis, issued a joint statement calling on Gov. Roy Cooper to address the state’s employment shortage. The senators said the shortage is harming small businesses across the state. “The employment shortage caused by exorbitant federal unemployment benefits is a real and serious threat to North Carolina’s recovery. Employers are finding they can’t compete with excessive federal benefits. Time is running out for industries that rely on the summer season for a large portion of their business,” they said. “Gov. Cooper needs to acknowledge the existence of a problem and take action to fix it. While the governor recently announced he will finally start reinstating the job search requirement, that’s merely enforcing existing law. It’s not enough.” NSJ STAFF

NC House Republicans tout pro-2nd Amendment agenda Raleigh The Republican-led North Carolina House of Representatives has advanced six laws they say show a commitment to protecting and defending the Second Amendment rights of lawabiding citizens. The bills include legislation to repeal the state’s pistolpermit process, which bill sponsor state Rep. Jay Adams (R-Catawba) said “is duplicative, costly and an unnecessary burden on law enforcement and law-abiding gun owners.” Other bills passed by the chamber include allowing federal prosecutors and judges to carry in court and allowing concealed-carry-permit holders to lawfully carry at a place of worship that shares property with an affiliated private school during non-school activities. NSJ STAFF

Texas Dems walk out, block passage of voter integrity law Austin, Texas Texas Democrats pulled off a dramatic, last-ditch walkout in the state House of Representatives on Sunday night to block passage of new voter-integrity laws. Republican Gov. Greg Abbott, who had declared new voting laws a priority in Texas, quickly announced he would order a special session to finish the job. He called the failure of the bill “deeply disappointing” but did not say when he would drag lawmakers back to work. Georgia and Florida have also passed new voting laws, and President Joe Biden called the bill “an assault on democracy.” THE ASSOCIATED PRESS

Bank of America’s Moynihan highestpaid NC CEO according to survey Charlotte An Associated Press and executive data firm Equilar survey tallied CEO pay across publicly traded companies to determine the highest-paid CEO in each state. To calculate CEO pay, Equilar added salary, bonus, stock awards, stock option awards, deferred compensation and other components that include benefits and perks. Brian T. Moynihan, who was named CEO of Bank of America in 2010, drew a salary $25.4 million, according to the survey. Bank of America recently announced plans to set the minimum wage for all positions at the company to $25 an hour by 2025. The bank, based in Charlotte, has more than 210,000 employees. NSJ STAFF

CAROLYN KASTER | AP PHOTO

Trump returns to NC with visit to Greenville Former President Donald Trump headline's the North Carolina Republican Party convention taking place on June 4-6 in Greenville.

NORTH

STATE

JOURNaL ELEVATE THE CONVERSATION

Senate tax cut package would lower personal rates, phases out corporate tax by 2028 By A.P. Dillon North State Journal RALEIGH — State Senate Republicans rolled out a comprehensive tax-cut package last week which they say would “result in a 21% income tax cut for a family of four earning the median household income.” “The state has had budget surpluses six of the last seven years. We have billions of dollars in unreserved cash,” Sen. Paul Newton (R-Cabarrus) said in a statement. “The Republican philosophy when government collects more money than it needs is to give it back through tax relief, and that’s what we’re doing here.” The new tax proposals, House Bill 334/Senate Bill 112, are part of a package working through Senate committees before it is expected to reach the Senate floor. Senate lawmakers said the proposal will “disproportionately benefit” lower income earners, citing that the percentage of filers earning less than $50,000 per year would drop from 10% to 8.8% while those making $200,000 would pay a larger share, going from the current rate of 43.4% to 44.9%. The Associated Press reported that Gov. Roy Cooper’s spokesman Ford Porter said, “The last thing we need is more sweeping tax breaks for corporations and the wealthiest among us instead of investments in our hard working families and communities.” North State Journal reached out to Gov. Cooper for comment but did not received a response. “After a year where we saw inequities exposed and exacerbated, North Carolina Republicans in the General Assembly are still prioritizing the wealthy and big corporations, while income inequality rises and public education — one of the most

powerful drivers of our economic future — suffers,” said North Carolina Democratic Party Chair Bobbie Richardson in a statement. Republicans argued that that they have been able to increase education spending while continuing to cut taxes. An example given was the 39% increase in per-pupil spending. “10 years of responsible Republican governance has left North Carolina in better shape than just about any state in the country. Our philosophy has always been when government has too much of your money, we should give it back to you,” Senate Leader Phil Berger (R-Eden) said of the package. The tax cuts for individuals are identical to that of Senate Bill 337, which also increases the standard state deductions. The increase to deductions will match the federal deduction rates for 2022. For example, a married couple filing jointly would see their deduction increase by $4,000, going from the current $21,500 to $25,500. The personal income tax rate will go from 5.25% to 4.99%. For a family of four with a median income of $54,602 that means a savings of around $325. The standard child deductions have expanded eligibility and would also increase. A family of four with a median income would see a $1,000 increase, going from the current $4,000 child deduction to $5,000. The corporate tax rate would also be reduced by .5% beginning in 2024. That decrease will continue annually until it reaches zero in 2028. Six other states currently have no corporate income tax. The bill seeks to reduce the franchise tax liability on corporations that have real propSee SENATE, page A2

EXCLUSIVE

Eastern NC radio legend Henry Hinton reflects on career By David Larson North State Journal RALEIGH — In eastern North Carolina, Henry Hinton’s voice is a familiar one — one that area families have heard introduce their favorite songs, call plays for college sporting events and interview major politicians for decades. Now an inductee into the North Carolina Broadcasters Hall of Fame and the owner of multiple stations along the state’s coast, Hinton spoke with North State Journal about his lifelong passion for radio. Even as a “country boy” growing

up in Chowan County, a rural area in the northeast of the state, Hinton said he spent as much time as he could around broadcasting. “We had a little community radio station in Edenton where Mom used to drop me off in the afternoons. I don’t know why, but I just had a love for music and radio,” Hinton remembered. “I would just hang around the radio station and help the disc jockeys there, do whatever they told me, pull AP Wire copy or get them coffee, or whatever. And I just kind of got bitten by the radio See HINTON, page A2

Budd says hard work, business background make him top Senate choice By Matt Mercer North State Journal

commercial chicken farm. “I grew up working on the farm

RALEIGH — There’s a scene in the TV series The West Wing’s third season that features the fictionalized president Jed Barlett and White House communications director Toby Ziegler in a tense Oval Office meeting. In the scene, Ziegler is worried about the perceived appeal of the president’s re-election opponent, telling him, “He’s good for all time zones.” This appeal could also sum up supporters’ core case for three-term U.S. Rep. Ted Budd in the upcoming 2022 Republican U.S. Senate primary. Budd calls himself a family man, small businessman and “liberal agenda crusher,” complete with a monster truck starring in his campaign announcement video. In his third congressional term, Budd has established a strongly conservative voting record. He opposed efforts to bring back congressional earmarks, saying, “Nothing epitomizes what’s wrong with Washington more than pork-barrel spending in the form of congressional earmarks.” He’s opposed sanctuary-city policies and sponsored several bills to reduce regulations on businesses. Just a month ago, he was one of just three North Carolina representatives to earn a “Taxpayers’ Friend Award” from the conservative National Taxpayers Union. Budd is a native North Carolinian, born in Winston-Salem, but as a young child his family moved to a farm off the Yadkin River in Davie County, where his wife and three kids live today. It’s there, Budd says, he learned about hard work. He grew up on the family’s cattle and

See BUDD, page A2


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