ICYMI Cal Cunningham Used $39K In Tax Credits To Renovate His Raleigh Mansion

July 31, 2020
For Immediate Release

Raleigh NC - Real Clear Politics reported today that after breaking his no-tax-increase pledge, he voted to raise taxes on North Carolinians by $1 billion, and used a historic preservation tax credit to complete over $130,000 worth of lavish home renovations. 

“Cunningham is just another elitist liberal who’s perfectly happy raising taxes on everyday people as long as he gets to benefit, and today’s report from Real Clear Politics proves it” said NCGOP Press Secretary Tim Wigginton

Here are some key excerpts from the article: 

Cal Cunningham, the Democratic attorney and Iraq War veteran challenging North Carolina GOP Sen. Thom Tillis, broke his no-tax-increase pledge and voted for a $1 billion tax increase when he was in the state legislature in 2001.

In his race for U.S. Senate nearly 20 years later, Cunningham no longer seems conflicted about supporting tax hikes, repeatedly arguing that corporations and the wealthy must pay their “fair share” to help the government provide numerous services, including cheaper health care and lower college costs. 

When it comes to his own taxes, however, Cunningham has taken advantage of government programs to reduce his obligation. 

From 2015 to 2019, Cunningham took nearly $40,000 in state tax credits for a $130,000 renovation to his home – a project that added a wet bar/butler’s pantry, expanded his master bedroom and replaced laminate with hardwood floors. 

The state’s historic preservation office approved Cunningham’s application for the tax credits to defray $38,860 from the renovations to his three-bedroom, 3,074-square-foot Raleigh home. Redfin estimates the home, constructed in 1920 in the Cameron Park neighborhood just west of downtown, is worth $903,000.

Cunningham reported $439,016 in income last year, compensation for legal work and his position as vice president and general counsel for WasteZero, a Raleigh-based waste reduction company, according to the financial disclosure report he’s required to file when running for Senate. That figure is more than eight times the 2018 median household income in North Carolina, the latest figure available.

 

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