Deep tax cuts, the pursuit of additional costly tax cuts, and an arbitrary spending limit are preventing House leadership from proposing a bold, visionary state budget for the upcoming 2017 fiscal year, as I explained yesterday.
Once accounting for these three limitations, there are few public dollars available for anything else after the House budget writers set money aside for basic—but again uneven—salary increases and bonuses for teachers and state employees. The 2013 and 2015 tax cuts alone are draining more than $1 billion in revenue annually, squeezing out much-needed reinvestment in the programs and services that help children, families, and communities thrive.
Without those tax cuts, much more could have been possible for North Carolina. There has been plenty of coverage of what is in the House budget over the last few days; however, what’s not in their budget has gotten little coverage. 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. Read more