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Presentation TitleMonth 00 > 2007
North Carolina Chamber Governmental Affairs Report
September 4, 2013
> 2@NCBizPolitics
Lobbying &
Advocacy
Policy Committees
Chamber
Federation &
Grassroots Alliance
Allied Business
Organizations
Political Intelligence
#1 Statefor Jobs
North Carolina ChamberThe Whole Game
IDEAS
SOLUTIONS
> 3@NCBizPolitics
2013 OpportunitiesPolitics to Policy
> Strengthen North Carolina’s talent and workforce development system
> Modernize the tax code
> Restore solvency, integrity and affordability to the UI Trust Fund
> Protect North Carolina’s water supply needs
> Encourage adequate support for transportation
> Continue updating the workers’ comp system
> Provide greater protection through tort reform
> Protect and attract jobs through continued regulatory reform
> Strengthen “all of the above” energy production
> 4@NCBizPolitics
> 5@NCBizPolitics
Education & Talent SupplyPillars of a Secure Future
Opportunities• Strengthen workforce
development
Wins• S14 – Increase Access to
Career/Technical Ed• H23 & H44 – Increase
Digital Learning• H767 – Brass to the Class• S280 – CDL Requirements• S361 – Excellent Public
Schools Act (included in the budget)
> 6@NCBizPolitics
Competitive Business ClimatePillars of a Secure Future
Opportunities• Tax modernization• UI reform• Workers’ comp improvements• Tort reform• Regulatory reform
Wins• H998 – Tax Reform• H4 – UI Reform• S174 – Disapprove IC Rules• H683 – Commonsense
Consumption Act• H74 – Regulatory Reform Act
In Progress• S648 – NC Commerce
Protection Act
> 7@NCBizPolitics
Tax Reform
> Dramatically improves North Carolina’s competitiveness regionally and nationally
> Moves North Carolina from 44th to 17th in state business tax competitiveness (Tax Foundation)
Key Features
• Lowers the personal income tax to a flat rate of 5.8% (5.75% in 2015)
• Increases the standard deduction• $20,000 combined mortgage interest
and property tax deduction• Eliminates the sales tax holiday• Eliminates the estate tax• Nonprofit sales tax refund cap: $45M
• Allows many credits, including Article 3J, to expire, but keeps the R&D credit
• Reduces the corporate income tax from 6.9% to 6% in 2014, 5% in 2015, and 3% by 2017 if triggers are met
• Studies: elimination of the franchise tax, expansion of the sales tax, and the corporate income tax trigger
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UI Reform> Our “Broke & Broken”
UI System> $2.5+ billion debt> 3rd highest UI debt in USA,
2nd highest per capita debt > Federally mandated tax
increases on employers until the debt is paid off
> Most generous benefits of any in in the South
> “Worst managed UI system in the nation for the last 15 years”
> #1 impediment to business climate competitiveness and job creation
> Reforms> Bring benefits in line with revenues, avoid yearly federal tax increases> Restore solvency, affordability, integrity to the reemployment system
Unemployment Insurance Trust FundCash Flow, 1990 to 2012
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Entrepreneurship & InnovationPillars of a Secure Future
Opportunities• “All of the above” energy
production strategy
Wins• S76 – Domestic Energy
Jobs Act• H613 – Omnibus Act
Regarding Coal-Based Energy (bad for jobs, defeated)
In Progress• S522 – New Markets
Jobs Act• H680 – Crowd-funding
> 10@NCBizPolitics
Infrastructure & Growth LeadershipPillars of a Secure Future
Opportunities• Protect NC’s water supply• Encourage adequate
support for transportation
Wins• S341 – Amend Interbasin
Transfer Law• H157 – Limit Use of Highway
Fund Credit Balance• H817 – Strategic Transportation
Investments• H857 – Public Contracts
Construction Methods• S710 – Fair Share
Contribution for Electronic Vehicles (budget)
