Uncategorized

Statement blasts Senate budget as “fiscally irresponsible”

This just in from the Budget and Tax Center:

BTC Statement: Senate budget “fiscally irresponsible”
This budget harms the foundations of economic growth, sets stage for tax plan which will force most to pay more

RALEIGH (May 23, 2013) — The budget passed by the Senate today is fiscally irresponsible. Senators approved a spending plan without details on how they will pay for it. Instead, they put in a place-holder for their tax plan that will cost $770 million over two years, meaning higher taxes for middle- and low-income North Carolinians, and cuts to investments that are vital to our state’s economy. 

Senate leaders haven’t given North Carolinians many details on the tax plan, but we do know that the majority of North Carolinians will be paying more, while taxes for the wealthy and profitable corporations will be cut. Because of the huge price tag, the state will have to make damaging cuts to things families and our economy depend on, like our neighborhood schools and world-class universities which build a skilled workforce and encourage innovation.

There’s no question that the inability of Senate leaders to rebuild the foundations of economic growth in this budget was due to these damaging tax cuts, not Medicaid costs as some have claimed.

Check Also

On its 65th anniversary, Brown v. Board of Education and school desegregation are in jeopardy

Tomorrow is the 65th anniversary of the U.S. ...

Top Stories from NCPW

  • News
  • Commentary

It appears that Thomas Farr is back in the game – the North Carolina redistricting game, that is. Th [...]

At its meeting next week, the UNC Board of Governors was scheduled to unveil a new plan for the futu [...]

You can hear the anger rising in Yevonne Brannon’s voice as she talks about the state’s controversia [...]

WASHINGTON -- Rep. Patrick McHenry has been representing western North Carolina in the U.S. House si [...]

Just under sixteen months ago in an essay entitled “Darkness descends on the General Assembly,” I ex [...]

“Governor Cooper is failing when it comes to helping minority students. Don’t let him take away your [...]

Last Friday was the anniversary of the Supreme Court’s landmark ruling in Brown v. Board of Educatio [...]

The post Do the right thing…or do the white thing? appeared first on NC Policy Watch. [...]