North Carolina Lawmakers Approve Decoupling From CARES Act

June 25, 2020, 11:53 PM

North Carolina lawmakers are sending Gov. Roy Cooper a bill that aims to avoid revenue losses from federal pandemic tax relief provided to businesses.

The bill (H.B. 1080), approved by the state Legislature Thursday, would allow the state to opt out of taxpayer-favorable provisions of the CARES Act (Public Law 116-136)—a $2 trillion federal relief law enacted in March. The measure is backed by business groups, including the North Carolina Chamber. Ford Porter, a spokesman for the Democratic governor, said Cooper would review the legislation before he decides whether to sign it.

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