Dr. David Ribar, professor in the Bryan School of Business and Economics, was interviewed by WGHP Fox 8 about the tax reform bill that passed through the North Carolina General Assembly on Tuesday. The bill, House Bill 998, is also known as the Tax Simplification and Reduction Act and was the result of a compromise by the House, Senate and Governor Pat McCrory.

Ribar, a self-professed progressive economist, believes that the bill is a major tax cut for the wealthy and for businesses that will end up costing the working and lower-middle class more money.

“Instead of households with incomes above a hundred thousand dollars paying a higher tax rate, they’ll pay what everybody else pays. That means a pretty big income tax cut for them,” he said.

“We had a big tax cut a couple of years ago. What’s happened to the jobs side then? Nothing,” Ribar continued. “We’ll probably get a big steaming plate of nothing again from this.”