Legislative Updates from the Chamber
The North Carolina Legislative session will begin on Wednesday May 18, 2022. Our colleagues at the North Carolina Chamber of Commerce have advised us that it will be two and a half weeks after session starts before bill drafting will begin. We will be monitoring the legislative session and will advise our members of issues that impact their businesses.
One issue the Triangle East Chamber of Commerce continues to follow is the investment in transportation infrastructure. Currently taxes and fees collected for transportation related purchases are allocated to the state’s general fund. According to the NC Department of Revenue more than $500 million in state sales taxes on more than $11 billion in automotive related purchases went into the general fund during the past fiscal year. Meanwhile North Carolina continues to face challenges in finding diversified revenue sources for roads, railways, ports,and airports over the next ten years.
Transportation and infrastructure are two key issues that are part of the Triangle East Chamber of Commerce’s Legislative Agenda. To see other issues we advocate for visit our legislative affairs page. This page also has information on our local, state, and federal elected officials.
Don’t forget to check out our JoCo Candidates Connection before hitting the polls on May 17.
Longtime member First Citizens Bank recently released its Small Business Forecast. The survey found that more than two-thirds of business owners described their business as being successful during the past year. The factors contributing to businesses success include COVID-19’s impact on increasing demand for certain types of products and services, fewer competitors, increasing consumer comfort with technology, and an increased desire to buy American. To learn more about their findings read the summary here.