2017 Fiscal Year State Budget, NC Budget and Tax Center

Budget falls short of being a visionary plan for North Carolina’s economic future, finds a new report from the NC Budget & Tax Center

North Carolina lawmakers approved their state budget this month, a budget constrained by limited aspirations. The pursuit of a rigid spending formula combined with another round of tax breaks prevented lawmakers from proposing an adequate budget, let alone a bold one, as we explain in our new Budget & Tax Center report.

The new tax breaks in the budget come on top of recent tax breaks, which together are projected to cost more than $2 billion annually once fully implemented. While the budget reinvests in some worthy programs and services, these investments are just a small fraction of what we need to build thriving communities and boost economic opportunity in North Carolina. The reality is that without tax giveaways to the wealthy and powerful, much more could have been possible to improve North Carolinians’ quality of life and to build a stronger, more inclusive economy for all.

Read the report to learn more about what lawmakers prioritized in the 2017 fiscal year budget, areas where investments fall short of what’s needed to help North Carolinians thrive, and what lawmakers’ fiscal decisions mean for the state’s ability to boost quality of life and shared prosperity.

Check Also

Redesigning TANF to lift more families out of poverty

The 1996 welfare law that created Temporary Assistance ...

Top Stories from NCPW

  • News
  • Commentary

When N.C. House Speaker Tim Moore and Senate President Pro Tem Phil Berger addressed reporters last [...]

Big corporations and wealthy executives have been on quite a run. Corporate profits are at historic [...]

This week the ACLU of North Carolina announced an initiative to end cash bail in North Carolina. Reg [...]

When Andrea Hudson was pulled over for a routine traffic violation in 2013, the police officer found [...]

There are a lot of important statistics that confirm just how out of whack the U.S. economy has grow [...]

The post Bite the Apple & NC’s HB2 Legacy appeared first on NC Policy Watch. [...]

When I headed off to college, I could not have predicted that many of the funding streams, positions [...]

For those who pay only periodic attention to the ins and outs of lawmaking in the North Carolina Gen [...]

Now hiring

NC Policy Watch is now hiring a Managing Editor – click here for more info.