Across the nation, the post-recession recovery has been slow and North Carolina is no exception. This is due in large part to historically low public investment. State leaders have turned to austerity and tax cuts to promote growth; unfortunately, these plans have backfired. We cannot leave our future up to the invisible hand of the market; the same invisible hand responsible for the financial crises. Public policy must intentionally promote and protect economic growth and stability.
The House gets it. Although modest, the budget proposed by the House of Representatives invests in North Carolina at rates higher than any other state bill since 2009. The bill increases funding towards K-12 education, rural communities, the court system, health, housing, and other critical public services.
It is now time for the Senate to follow suit. Unfortunately, the Senate’s spending targets lead analysts to expect a bill that will exclude many of the provisions that would give North Carolinians the breath of fresh air that they so desperately need. In anticipation, the North Carolina Justice Center’s Budget & Tax Center held a press conference, Monday, calling on the Senate to build on the reinvestment the House budget. Read more