Democratic House candidate Dan McCready's spouse has claimed over $50,000 in tax credits since 2016 under a controversial North Carolina business incentive program, according to state records, even as her husband runs in opposition to tax loopholes.
McCready, who is running against Republican Dan Bishop and has also been in talks with Senate Majority Leader Chuck Schumer about a potential 2020 Senate bid, has criticized loopholes that allow companies and wealthy individuals to lower their tax rate, arguing that the overwhelming amount of tax credits benefit the upper class.
McCready's wife, Laura T. McCready, claimed $19,745 in business tax credits in 2016 and $33,232 in 2018, according to North Carolina records.
The credits were available under a North Carolina program for renewable energy investors and covered up to 35% of the tax liabilities for renewable energy projects.
The records do not say what project McCready's wife claimed for the tax credits.
"These tax credits were built to create those jobs, and they were taken just like any other North Carolina family itemizes their taxes. Today, over 30,000 North Carolina workers are employed in clean energy jobs of the future."
Although the renewable tax credit program expired in 2015, the state paid out over $664 million due to a delayed sunset clause that allows renewable energy investors to retroactively claim the tax credits for projects that took place before 2017.
https://www.washingtonexaminer.com/politics/house-candidate-campaigns-against-tax-loopholes-as-wife-collects-50k-in-credits
McCready, who is running against Republican Dan Bishop and has also been in talks with Senate Majority Leader Chuck Schumer about a potential 2020 Senate bid, has criticized loopholes that allow companies and wealthy individuals to lower their tax rate, arguing that the overwhelming amount of tax credits benefit the upper class.
McCready's wife, Laura T. McCready, claimed $19,745 in business tax credits in 2016 and $33,232 in 2018, according to North Carolina records.
The credits were available under a North Carolina program for renewable energy investors and covered up to 35% of the tax liabilities for renewable energy projects.
The records do not say what project McCready's wife claimed for the tax credits.
"These tax credits were built to create those jobs, and they were taken just like any other North Carolina family itemizes their taxes. Today, over 30,000 North Carolina workers are employed in clean energy jobs of the future."
Although the renewable tax credit program expired in 2015, the state paid out over $664 million due to a delayed sunset clause that allows renewable energy investors to retroactively claim the tax credits for projects that took place before 2017.
https://www.washingtonexaminer.com/politics/house-candidate-campaigns-against-tax-loopholes-as-wife-collects-50k-in-credits
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