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Tax cuts, crypto and more • NC Newsline
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Tax cuts, crypto and more • NC Newsline

Lieutenant Governor Mark Robinson said in campaign ads focused on prices and the cost of living that North Carolina families “work too hard to make ends meet.”

A three-page plan released by his campaign team this week offers a roadmap for his economic priorities, including tax cuts, reducing government regulations and strengthening the state as a “national leader” in cryptocurrency.

Robinson, the Republican candidate for governor, wants to continue tax cuts for businesses and individuals, building on recent tax cuts passed by the Republican-led legislature.

His goal is to eliminate any government regulation that “hinders businesses and has no meaningful impact on consumer protection.”

And he will keep a close eye on the tasks and efficiency of government agencies and make “changes” if necessary.

“I know what families in need are going through because I’ve lived through the same struggles,” Robinson said on social media when he introduced the plan. “North Carolina families and businesses need help – and my plan will put more money back in your pockets so you can make ends meet and save for the future.”

His Democratic opponent, Attorney General Josh Stein, campaigned on the theme of an “economy that works for everyone.” Stein proposed a refundable income tax credit for working families with children and called for well-funded schools and training programs to strengthen the state’s workforce.

“Mark Robinson would destroy jobs in North Carolina,” Stein campaign spokeswoman Morgan Hopkins said in a statement to NC Newsline.

Josh Stone
Attorney General Josh Stein (Photo: NC Department of Justice)

“He wants to take away women’s reproductive freedoms and ‘cut’ funding for public schools. He opposes expanding Medicaid and employment incentives. And he says horrible, hateful things about people and promotes violence and conspiracy theories.”

Hopkins said Stein has “a plan to address the high cost of living, stimulate the economy and make sure that plan works for more people.”

Robinson’s campaign spokesman did not respond to a request for further comment on the economic plan.

Robinson Plan promotes government efficiency and less regulation

Regulators should put up “guardrails” but not “roadblocks,” Robinson says. And across all government sectors, agencies should develop a “culture of excellence.”

Both points in the candidate’s plan indicate a desire for a leaner state government that has less influence on taxpayers and businesses.

“We need to make sure the agencies work quickly and efficiently,” Robinson says. “Delays by agencies in permitting, licensing and project approvals cost time and money and do North Carolina taxpayers a disservice.”

Robinson says he will “expect excellence from every state agency and its leaders.” And he says “changes need to be made” if those agencies are “not effectively serving” taxpayers.

It is unclear whether this could also mean cuts in agency positions or the cancellation of the departmental merger altogether. (Robinson’s campaign team did not respond to a request for clarification on the matter.)

The plan does not address the agency’s staffing shortages, which have contributed to some of the current delays.

The lieutenant governor also criticized the state’s role in attracting companies to North Carolina.

In 2020, he answered “no” in a candidate poll when asked whether the government should offer tax breaks and other financial benefits to encourage companies to relocate.

Two years later, Robinson told Business NC he was “not really in favor of giving away the business, so to speak, or being lured by these supposedly huge tax giveaways to bring these companies into the country.” When asked if he would stop the program, he said, “I can’t say,” but did not rule out the possibility.

Stein told Axios in a statement earlier this year that he supports “performance-based incentives” for companies, while praising North Carolina’s top position in the state’s corporate rankings, per CNBC.

Robinson: “I will take the lead” in cryptocurrencies

Robinson says that if elected, he would join the cryptocurrency industry.

“I believe North Carolina has the potential to become a national leader in cryptocurrency, and as governor, I will lead that effort,” Robinson’s plan states.

He has previously expressed interest in the industry, visiting a Bitcoin mining facility in Graham in 2022. He also continues to champion the state’s blockchain initiative, launched by former Lieutenant Governor Dan Forest.

Crypto has the support of some conservative politicians and advocates who say it represents a new frontier for a currency independent of the government. But the industry has also come under intense scrutiny – partly due to the collapse of leading exchange FTX in 2023, as well as the significant energy consumption of mining facilities.

Robinson also says he will “never allow” North Carolina to implement a central bank digital currency. These currencies are similar to cryptocurrencies but have a fixed value set by a central bank and are equivalent to a country’s fiat currency.

This year, the General Assembly passed a bill banning the currencies with bipartisan support, but it was vetoed by Governor Roy Cooper, who told lawmakers to wait for federal guidelines and standards. It remains to be seen whether the Senate will vote to repeal the law later this year.

Other priorities: ESG, infrastructure and workforce

Other policy priorities in Robinson’s economic plan include:

  • Prevent environmental, social and governance (ESG) investments — which some companies have adopted in recent years to prioritize environmental and social issues — from “harming taxpayers.” House Bill 750, passed by lawmakers in 2023, prohibits state agencies from considering ESG when making investments, awarding contracts or hiring decisions. And it requires the state treasurer to make investments for the state pension fund based solely on financial impact.
  • Investments in infrastructure – rural broadband, “safe and wide roads” and more. Governor Roy Cooper has touted investments in state infrastructure – such as roads, bridges, water and internet – funded in part by federal spending from Congress and the Biden administration.
  • Workforce development through funding for higher education as well as technical and training programs.

Democrats say Robinson’s ‘extreme record’ would hurt North Carolina’s economy; Republicans point to Stein’s praise for Biden

Democrats in North Carolina rejected Robinson’s economic plan on the grounds that his numerous inflammatory statements and comments would cost the state jobs.

The North Carolina Democratic Leadership Committee’s Robinson War Room outlined its own “more precise view” of Robinson’s 10-point plan in a press release Tuesday.

She criticized Robinson’s comments calling teachers “bad people” and his past opposition to the Affordable Care Act and the state’s stimulus program.

Robinson’s economic plan is another desperate attempt to rewrite history and run away from his extreme policies that would destroy jobs and harm workers,” said spokesman Dawson McNamara-Bloom.

The Republican Governors Association praised Robinson’s plan in a statement, calling Stein “unrealistic” and linking him to the Biden administration’s economic policies.

“In North Carolina, the contrast is stark,” said Kollin Crompton, director of rapid response. “Josh Stein’s comments are a slap in the face to North Carolina families while Mark Robinson fights to give opportunities to all.”

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