A report out today highlights a lot of areas where North Carolina’s economic policy is badly wanting. Drawing on a trove of economic analysis, the report identifies common-sense policies that can grow an economy that works for everyone.
Let’s just say that North Carolina has plenty of room for improvement. As legislators gear up for the 2016 session, here are a few ways we could move toward a more inclusive and competitive economic footing:
- Rebuild and strengthen education: North Carolina can reverse the drop-off in education funding since 2008, one of the most dramatic declines in the nation.
- Enact a state Earned Income Tax Credit (EITC): North Carolina can rejoin the majority of states that use a state EITC to boost consumer spending and economic growth.
- Expand Medicaid: North Carolina can save lives, expand health coverage, save state funds through expanding Medicaid.
- Reverse costly tax cuts for wealthy people and companies: North Carolina can ditch the trickle-down economic theory that has failed time and again to stimulate economic growth.
The report identifies a number of other areas where North Carolina’s recent policy choices are out of step with common sense and solid evidence, but these are some of the most glaring examples.
The good news is that we can do better. North Carolina is not doomed to witness the death of the middle-class, or to see poverty become an inter-generational destiny, or to watch helplessly as working North Carolinians miss out of the fruits of economic growth. We can build an economy that works for everyone, it just takes the political will to make it happen.