ICYMI: Many North Carolina Residents to Lose Money Under Big Beautiful Bill [CBS 17]
July 17, 2025
According to new reporting from CBS 17, the GOP’s toxic law will hurt working North Carolinians, causing them to lose money while the wealthiest Americans benefit from a tax giveaway.
Reminder: This bill raises costs, guts health care for more than 650,000 North Carolinians, and cuts food assistance, all at the expense of working families.
The GOP field for Senate will have to answer for this devastating law as North Carolina families start to feel its impact.
Read more below.
CBS 17: Many North Carolina residents to lose money under Big Beautiful Bill
Deana Harley | July 16, 2025
- A recent report from the University of Pennsylvania shows people who make between $53,000 and $96,000 annually may see an increase in their pay in the next few years, but will lose about $1,500 annually by 2033.
- Households making more than $1 million annually will make an extra $29,000 and more by that year.
- Because the average household income in North Carolina is about $69,000 annually, the average household will lose money.
- “The wealthiest North Carolinians could get hundreds of thousands of dollars of additional tax benefits,” Meredith College political science professor David McLennan said.
- The bill also raises the national debt by trillions of dollars, which could impact what people pay on interest on mortgages, cars, and more.
