January 27, 2009

Speaker Hackney promotes Obama recovery plan

Posted at 2:56 PM by Rob Schofield

North Carolina House Speaker Joe Hackney of Orange County spoke to a gathering of more than 200 people today at an N.C. Policy Watch Crucial Conversation luncheon in Raleigh. According to the Speaker, who is also the President of the National Conference of State Legislatures, there is cause for real optimism about the economic recovery plan that is working its way through the U.S. Congress. The plan, said Hackney, would provide real and extremely beneficial assistance to North Carolina – both by helping state lawmakers to cope with the current and coming fiscal year’s budget shortfalls as well as by advancing important economic stimulus initiatives (like weatherization, energy efficiency and general infrastructure projects) for which there are currently no available resources.

Hackney told the group that NCSL representatives had worked closely with the Obama administration to craft the plan and that he was delighted at the response the administration had provided. The Speaker also voiced strong disagreement with those who, as he described it, oppose any stimulus plan. “When we know how to create jobs and stimulate the economy, should we sit there and do nothing? No. we should act,” he said.

Despite Hackney’s optimism about the prospects for the federal stimulus to ease North Carolina’s budget crisis somewhat, he didn’t sugarcoat the challenges that face the state in the coming months. He forecast painful service cuts and indicated that raising new revenues or (as many experts have urged) enacting real and lasting revenue reforms will be an enormous political challenge. He did allow, however, that “everything is on the table.”

Hackney was followed to the podium by Elaine Mejia, Director of the N.C. Budget and Tax Center. She noted that even if sizable federal relief materializes in the near future the state is still likely to confront a “fiscal cliff” by the middle of 2010 if it does not begin to work on fundamental revenue reforms.

 

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1 Comment

1 Comment Add yours »

Imee 4 Feb 2009 2:27 am

I like the fact that Hackney, though he was all for the stimulus, admitted the painful realities his state might encounter.

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