More Tax Cuts, Less Regulation, Cryptocurrency Acceptance

Lt. Gov. Mark Robinson (Photo by Andrew Harnik/Getty Images)

Lieutenant Governor Mark Robinson said North Carolina families are “working too hard to make ends meet” in campaign ads focused on prices and the cost of living.

A three-page plan released by his campaign this week lays out a roadmap for what he would like to prioritize on the economic front — cutting taxes, reducing government regulation and making the state a “national leader” in cryptocurrency, among other proposals.

Robinson, the Republican candidate for governor, wants to continue cutting taxes for businesses and individuals, building on recent cuts approved by the GOP-controlled Legislature.

Its aim would be to abolish all state regulations that “hinder the conduct of business and have no significant impact on customer protection.”

He was also to closely monitor the tasks and effectiveness of government agencies, making “changes” if necessary.

“I know what struggling families are going through because I’ve been through the same struggles myself,” Robinson said on social media, sharing the plan. “North Carolina families and businesses need relief — and my plan lets you get more money back to make ends meet and save for the future.”

His Democratic opponent, Attorney General Josh Stein, called for an “economy that works for everyone” during the campaign. Stein has proposed a refundable tax credit for working families with children and called for well-funded schools and training programs to bolster the state’s workforce.

“Mark Robinson would destroy jobs in North Carolina,” Stein campaign spokesman Morgan Hopkins said in a statement to NC Newsline.

“She wants to take away women’s reproductive freedom and ‘cut’ funding for public schools. She opposes Medicaid expansion and work incentives. And she says horrible, hateful things about people and promotes violence and conspiracy theories.”

Hopkins said Stein “has a plan to address the high cost of living, grow the economy and make sure it serves more people.”

A spokesman for Robinson’s campaign did not respond to a request for further comment on the economic plan.

Robinson’s plan promotes government efficiency and less regulation

Regulatory agencies should provide “guardrails” but not “roadblocks,” Robinson says. And across government, agencies should develop a “culture of excellence.”

Both points of the candidate’s plan indicate a desire to create a narrower state government that is less intrusive in the relationship between taxpayers and businesses.

“We need to make sure agencies are moving quickly and efficiently,” Robinson says. “Agency delays in issuing permits, licenses and project approvals cost time and money; and they do North Carolina taxpayers a disservice.”

Robinson says he will create an “expectation of excellence from every state agency and the leaders of those agencies.” And he says “changes need to be made” if those agencies “are not effectively serving” taxpayers.

It’s unclear whether that could include cuts to agency staffing or the elimination of departmental consolidation altogether. (Robinson’s campaign did not respond to a request for clarification on that point.)

The plan does not address the agency’s staffing shortages that have contributed to the current delays.

The lieutenant governor also criticized the state’s role in attracting businesses to North Carolina.

In a 2020 candidate survey, he answered “no” when asked whether the state should offer tax breaks and other financial benefits to convince companies to relocate.

Two years later, Robinson told Business NC that he was “not in favor of giving away the store, so to speak, or bribing these companies to bring them in by giving them what we call huge tax breaks.” Asked if he would stop the program, he said “I can’t say that,” but he didn’t rule out the possibility.

Earlier this year, Stein said in a statement to Axios that he supports “performance-based incentives” for companies, while praising North Carolina’s top performance in CNBC’s state business rankings.

Robinson: ‘I will lead the attack’ on cryptocurrency

Robinson said that if elected, he would get involved in the cryptocurrency industry.

“I believe North Carolina is well-positioned to become a national leader in cryptocurrency, and as governor, I will lead that process,” Robinson says in the plan.

He has previously expressed interest in the industry, visiting a bitcoin mining facility in Graham in 2022. He also continues to support the state’s blockchain initiative, established by former Lieutenant Governor Dan Forest.

Cryptocurrencies are being championed by some conservative politicians and advocates who say they represent a new frontier for government-independent currency. But the industry has also come under intense scrutiny — in part because of the collapse of leading exchange FTX in 2023, as well as the significant energy consumption of mining facilities.

Robinson also says he would “never allow” a central bank digital currency to be created in North Carolina. These currencies are similar to cryptocurrencies but have a set value through the central bank and are equivalent to the country’s fiat currency.

This year, the General Assembly passed a bill with bipartisan support to ban the currencies, but it was vetoed by Gov. Roy Cooper, who urged lawmakers to wait for federal guidelines and standards. The question remains whether the Senate will finalize its rejection of the bill later this year.

Other priorities: ESG, infrastructure and workforce

Other policy priorities in Robinson’s economic plan include:

• Preventing environmental, social and governance (ESG) investing — which some corporations have adopted in recent years to prioritize environmental and social issues — from “harming taxpayers.” House Bill 750, passed by lawmakers in 2023, would prohibit state agencies from considering ESG when investing, awarding contracts or making employment decisions. And it requires the state treasurer to make investments in the state pension fund based solely on financial impact.

• Investing in infrastructure — rural broadband, “safe and wide roads” and more. Gov. Roy Cooper has touted investments in state infrastructure — such as roads, bridges, water and internet — funded in part by federal spending from Congress and the Biden administration.

• Developing the workforce by funding higher education and technical and apprenticeship programs.

Democrats say Robinson’s ‘extreme track record’ would hurt North Carolina economy; Republicans point to Stein’s praise for Biden

North Carolina Democrats have opposed Robinson’s economic plan, arguing that his controversial statements and remarks will cost the state jobs.

The North Carolina Democratic Leadership Committee’s “Robinson War Room” offered its own, “more thorough” take on Robinson’s 10-point plan in a press release Tuesday.

The article criticized Robinson’s comments in which he called teachers “bad people,” as well as his past opposition to the Affordable Care Act and his past opposition to a state incentive program.

““Robinson’s economic plan is another desperate attempt to rewrite history and escape his extreme behaviour that would destroy jobs and hurt workers,” spokesman Dawson McNamara-Bloom said.

The Republican Governors Association, in a statement praising Robinson’s plan, called Stein “out of touch with reality” and linked him to the Biden administration’s economic policies.

“The contrast is stark in North Carolina,” said Rapid Response Director Kollin Crompton. “Josh Stein’s comments are a slap in the face to North Carolina families, while Mark Robinson fights to make opportunities available to all.”