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Follow the money: How the House pays for its budget
Posted By Tazra Mitchell On June 11, 2013 @ 3:10 pm In NC Budget and Tax Center | Comments Disabled
The full House Appropriations Committee is currently debating the House’s proposed budget. Legislators spent more than two hours providing an overview of the proposal but skipped over how the House pays for its proposal. As we pointed out  during the Senate budget process, this is not uncommon. How the state raises the billions of dollars that fuel the state budget gets relatively little scrutiny compared to the rest of the budget during the budget process.
But because the House budget includes tax cuts for the rich that significantly reduce resources to pay for vital services, it is more important than ever to examine how the state will make up for the tax cut’s $528.6 million price tag in the next biennium and $1.5 billion over the next five years.
Here’s what’s important for you to know about how the House pays for its budget:
The General Fund availability statement is summarized in the chart below.
Article printed from The Progressive Pulse: http://pulse.ncpolicywatch.org
URL to article: http://pulse.ncpolicywatch.org/2013/06/11/follow-the-money-how-the-house-pays-for-its-budget-2/
URLs in this post:
 we pointed out: http://pulse.ncpolicywatch.org/2013/05/21/follow-the-money-how-the-senate-pays-for-its-budget-2/
 not true reform as it would result in a tax shift: http://www.ncjustice.org/?q=budget-and-tax/factsheet-key-concerns-house-bill-998
 Image: http://pulse.ncpolicywatch.org/wp-content/uploads/2013/06/House_Revenue-Chart_June-11.jpg
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