The Civitas Institute is running a radio ad this week that praises the new tax law, saying it will contribute to job growth.
The law, which was passed last year, reduces personal and corporate income tax rates and increases the personal tax exemption.
“Have you had a close look at your paycheck this month?” the ad begins. “Millions of North Carolinians are now taking home bigger paychecks because last year the state legislature and governor signed the largest tax cut in state history into law.”
Civitas says the ad started running Wednesday in major markets and will continue through the month. The ad buy was nearly $20,000, said the organization. The ad advises listeners to check out the group’s tax site, taxreformnc.com, for more information.
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Many wage-earners, however, may be having trouble holding onto that extra money because of the same tax law. It eliminated about 40 tax breaks, including the tax deduction on contributions to 529 college savings accounts. The tax on the typical mobile home increased by more than $2,000, and meals prepared for university dining halls will now be taxed.