- The Progressive Pulse - http://pulse.ncpolicywatch.org -
Overview of the Senate budget proposal
Posted By Tazra Mitchell On May 20, 2013 @ 4:17 pm In NC Budget and Tax Center | Comments Disabled
Late last evening, the Senate leadership released their proposed $20.6 billion budget  for FY2013-14. This proposal fails to fully invest the slight uptick in revenues into the public priorities that ensure better opportunities for all children, help get North Carolinians back to work, and rebuild the middle class.
Furthermore, by linking this proposal to their revenue-reducing tax plan, Senate leadership fails to lay a foundation for a strong economy and thriving families and communities. Over the biennium, the Senate tax package would reduce available revenues by $217.1 million in FY2013-14 and $553.1 million in FY2014-15. As we mentioned last week, these tax cuts would primarily benefit the wealthiest residents and corporations  and would extend well beyond the next biennium.
As illustrated in the chart below, the Senate proposal for FY2013-14 would increase spending by 1.7 percent over the base budget . Yet, spending would drop by .1 percent and 8.5 percent, respectively, compared to the Governor’s proposal and pre-recession levels (FY2007-08, adjusted).
The Senate Appropriations Subcommittees will meet this afternoon to review, discuss, and vote on the appropriation items and special provisions in their respective budget areas. My colleges and I at the Budget and Tax Center reviewed the 159-page Money Report  and put together a short list of noteworthy items in the major budget areas:
Health and Human Services
Natural and Economic Resources
Tomorrow, we will break down the general fund availability statement to give you an idea of how the Senate leadership pays for their budget.
Article printed from The Progressive Pulse: http://pulse.ncpolicywatch.org
URL to article: http://pulse.ncpolicywatch.org/2013/05/20/overview-of-the-senate-budget-proposal/
URLs in this post:
 $20.6 billion budget: http://ncleg.net/sessions/2013/budget/2013/S402-CSMDxf-9.pdf
 primarily benefit the wealthiest residents and corporations: http://www.ncjustice.org/sites/default/files/BTC-%20Disparate%20Treatment%20in%20Tax%20Plans.pdf
 base budget: http://pulse.ncpolicywatch.org/2013/03/21/a-quick-note-on-the-superior-compared-to-what-budget-baseline/
 Image: http://pulse.ncpolicywatch.org/wp-content/uploads/2013/05/CHART-Sen-Proposal-Compared-to-Base-Budget-Gov-Budget-and-Pre-Recession_May19.png
 Money Report: http://www.ncga.state.nc.us/sessions/2013/budget/2013/SB402_Committee_Report_2013-05-21.pdf
 Overview of the House budget proposal, with an eye to the impact on low-income North Carolinians: http://pulse.ncpolicywatch.org/2013/06/10/overview-of-the-house-budget-proposal-with-an-eye-to-the-impact-on-low-income-north-carolinians/
Copyright © 2013 The Progressive Pulse. All rights reserved.