Uncategorized

NC public investments still not back to pre-recession levels

A preliminary analysis of the Governor’s proposed budget by the experts at the N.C. Budget and Tax Center reports that: 

“The proposal was thin on the details for how and who would fund the spending priorities that were laid out.  The one revenue change supported by the Governor was the repeal of the state estate tax, a move that would result in the loss of $52 million.  Last year, just 23 multi-million dollar estates paid the state estate tax.  Because there was no significant change in availability, the budget is able to expand investments in certain areas by relying on spending cuts in other areas, tuition and fee increases, and the modest improvement in revenue collections to date. Below is a helpful graph to put the Governor’s proposal in perspective relative to what is needed to maintain current service levels or reach pre-recession levels.” 

 Governor's Budget Proposal Change from Base Budget and Pre-Recession Chart

 

 

 

 

 

 

 

 

 

 

 

            The bottom line at this point: North Carolina spending on basic public services and structures remains inadequate and well-below pre-recession levels. The Governor’s budget does little to addres this enormous problem.

 

 

Check Also

NC Policy Watch Policy Prescription #9: Expanding opportunities for justice within the criminal justice system

As the 2018 legislative session gets underway in ...

Top Stories from NCPW

  • News
  • Commentary

In one of the largest campaign donation forfeitures in state history, 48 improper donations from the [...]

Friends, neighbors, colleagues of commission chairman Jim Womack submit nearly identical letters cla [...]

When N.C. House Speaker Tim Moore and Senate President Pro Tem Phil Berger addressed reporters last [...]

Big corporations and wealthy executives have been on quite a run. Corporate profits are at historic [...]

There are a lot of important statistics that confirm just how out of whack the U.S. economy has grow [...]

The post Bite the Apple & NC’s HB2 Legacy appeared first on NC Policy Watch. [...]

When I headed off to college, I could not have predicted that many of the funding streams, positions [...]

For those who pay only periodic attention to the ins and outs of lawmaking in the North Carolina Gen [...]

Now hiring

NC Policy Watch is now hiring a Managing Editor – click here for more info.