Political speech, timestamped and in context

Josh Stein: “The income tax, it's never been 3.5%. Right now it's 3.79. It's about to go 3.74. It's about to go to 3.49.”

Featuring: Josh Stein, Democratic | Governor of North Carolina

Stein Slams GOP-Backed NC Tax Amendments That 'Protect Millionaires' At Expense Of Workers

Published October 6, 2026

There's an income tax amendment and a property tax amendment and I think these constitutional amendments are really con jobs because what it will end up doing is putting more burden on working people. The income tax, it's never been 3.5%. Right now it's 3.79. It's about to go 3.74. It's about to go to 3.49. And, and they're saying that if we go into a recession that we can't raise the tax higher than 3.5%. (00:17–00:27)

STATEMENT

Asserts the current and future income tax rates in the state.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

See the main statements from Josh Stein in this video

“If we go into a recession that we can't raise the tax higher than 3.5%.”
Asserts that the proposed amendment would cap income tax increases during a recession.00:28-00:34
“They are protecting millionaires with this amendment so that the only recourse for the state to cover the budget gap... will be to go to the sales tax.”
Asserts that the amendment protects millionaires and shifts the tax burden to sales tax.00:49-01:01
“We have to have a balanced budget by the Constitution.”
Asserts that the state is constitutionally required to maintain a balanced budget.00:56-01:00