Today’s highlighted taxpayer-related measure from NTU’s informational ballot guide: North Dakota’s Statutory Measure No. 2.

Measure 2 would lower the state corporate income tax by 15 percent and cut the state personal income tax in half.

North Dakota is projected to have a $1.3 billion budget surplus, and Measure Two could save taxpayers over $415 million over the next two years. A family with household earnings of $50,000 in taxable income would save $500.

The Tax Foundation found in a recent study that North Dakota's economy is capable of handling the tax cuts, and that higher rates of economic growth will follow. Tax Counsel Joseph Henchman said, "If North Dakota moves in the direction of lowering tax burdens without undermining government services, there is a strong likelihood that better economic performance will follow," explaining that lower tax rates encourage innovation and investment.