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Missed Opportunities: Investments that are MIA in the joint budget deal

Many pundits and outlets are describing the joint budget deal as a “compromise” between the inadequate House and Senate budgets. But North Carolinians from Murphy to Manteo know that we cannot compromise our future.

By pursuing deeper tax cuts, policymakers have failed to strengthen public education, public health, and safety, and the other building blocks of a strong economy.

The new tax plan will lose $383.6 million over a two-year period, with the annual loss ballooning to $692.9 million by the fifth year [1]. Revenue losses will grow by another $458 million over the next two years when accounting for corporate tax breaks that are already scheduled to go into effect. All of these revenue losses will add to the damage from the 2013 tax cuts, which result in $1 billion in lost revenue each year when fully implemented.

That’s why it’s no surprise that there are a lot of investments in vital public services that are needed but missing from the new budget deal, like public education, public health and safety, and rural economic development. There has been plenty of coverage of what is in the budget over the last day and a half but there has been little coverage of what’s not in the budget.

Below is a short list of investments that are missing in action but still greatly needed to build a stronger, more inclusive economy for us all.

Economic Security

Early Childhood Education, Public Schools, and Higher Education

Affordable, Healthy, and Safe Communities

Re-employment and Economic Development