{"id":994,"date":"2026-05-31T15:37:15","date_gmt":"2026-05-31T15:37:15","guid":{"rendered":"https:\/\/charlotterelocationguide.com\/?p=994"},"modified":"2026-05-31T15:37:15","modified_gmt":"2026-05-31T15:37:15","slug":"why-nc-gov-josh-stein-says-the-income-tax-cap-on-fall-ballots-is-a-shell-game","status":"publish","type":"post","link":"https:\/\/charlotterelocationguide.com\/?p=994","title":{"rendered":"Why NC Gov. Josh Stein says the income tax cap on fall ballots is a \u2018shell game\u2019"},"content":{"rendered":"

AI-generated summary reviewed by our newsroom.<\/p>\n

Read our AI Policy.<\/a><\/p>\n

Hello and welcome to our Under the Dome newsletter focusing on the governor. I\u2019m Capitol bureau chief Dawn Vaughan<\/b>.<\/p>\n

Read more Mercedes-Benz faces a potential U.S. sales ban<\/a><\/p>\n

Lawmakers are coming back to Raleigh after a weeklong break<\/a>, and Democratic Gov. Josh Stein<\/b> is still waiting, as he has been for about a year, for them to send him a budget bill.<\/p>\n

Like grains of sand through an hourglass, legislative budget time passes slowly.<\/p>\n

What did move swiftly was a bill putting a constitutional amendment on the ballot to cap the personal income tax rate at 3.5%, which is half of the current cap. Constitutional amendments do not need to go to the governor to become law if they pass with a three-fifths supermajority, which this did.<\/p>\n

Stein had some sharp words about it, calling it a \u201ccon\u201d and a \u201ccynical shell game\u201d as he talked to reporters on Wednesday about a variety of things during one of his \u201cNC Strong\u201d news conferences.<\/p>\n

\u201cIt is incredibly imprudent and fiscally irresponsible to set a cap on an income tax at a level that we\u2019ve never even been that low before,\u201d Stein said. The current income tax cap is 7%, set by a constitutional amendment that Republicans put on the ballot in 2018 and voters approved. The actual tax rate is 3.99% and is set to fall to 3.49% next year as part of a yearslong series of tax cuts.<\/p>\n

\u201cWhat that is, is a cynical shell game that will take the burden off of very wealthy people who can afford to pay a little bit more in income tax, and put it on the backs of regular people: Anybody who pays the sales tax or anything. Because in the time of a recession you have two ways to raise revenue. It\u2019s either sales tax or income tax,\u201d he said, going on to call it \u201cmillionaire protection.\u201d<\/p>\n

Read more Amazon joins Microsoft in sending AI message to employees<\/a><\/p>\n

North Carolina\u2019s income tax is a flat tax, meaning that millionaires pay the same rate as middle-class earners.<\/p>\n

Here\u2019s more of my coverage on Stein and Republican lawmakers\u2019 positions on income and sales taxes:<\/p>\n

Be sure to listen to (or watch on YouTube<\/a>) our weekly Under the Dome podcast. I host a new episode that posts on Tuesdays. On our latest episode, I was joined by congressional impact reporter Danielle Battaglia<\/b> and democracy reporter Kyle Ingram<\/b>. Coming up this week, I\u2019ll be talking with my Charlotte Observer colleague Mary Ramsey<\/b> about legislative action impacting Mecklenburg County.<\/p>\n

Thanks for reading. Reach me at dvaughan@newsobserver.com or the entire politics team at dome@newsobserver.com.<\/p>\n

This story was originally published May 31, 2026 at 5:00 AM<\/span> with the headline “Why NC Gov. Josh Stein says the income tax cap on fall ballots is a \u2018shell game\u2019.” <\/a><\/span><\/p>\n

Read more Calabasas Confidential\u2019s Surprise Celeb Cameos: Jordyn Woods to Larsa Pippen<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

North Carolina Gov. Stein warns the 3.5% income tax cap on the ballot would protect millionaires and force higher sales taxes or cuts during downturns.<\/p>\n","protected":false},"author":1,"featured_media":993,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-994","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-read-todays-edition"],"yoast_head":"\nWhy NC Gov. 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