Tagged: Kay Hagan

North Carolina’s two US Senators agree eliminating tax loopholes should be part of the equation as congress works to avoid the so-called fiscal cliff. Congress has to decide whether tax cuts should be extended for any Americans and if automatic cuts to federal government should be partially or completely stopped. Democratic U.S. Senator Kay Hagan supports reduced spending and changes to the tax code.

Tens of thousands of furniture retailers, buyers and journalists from more than 100 countries are in High Point this week for the bi-annual High Point Market.  Those in the furniture industry say business is up this year across the country.   That is good news for a state like North Carolina that has been tied to the industry for generations.  Changing Economy Reporter Leoneda Inge visited a showroom in High Point that’s getting a lot of attention this year.

With Congress back in session U.S. Senator Kay Hagan is touting a bill she says will help small businesses. Jeff Tiberii reports.

Jeff Tiberii: The Small Business Jobs and Tax Relief Act of 2012 is expected to come up for a vote this week. Hagan says the legislation has bipartisan support and will accomplish two things.

Kay Hagan: The first is an income tax credit on new payroll. And this is either through hiring new people or increasing current wages and there will be a 10-percent income tax credit to the small businesses.