Budget
NC Budget & Tax Center Statement on 2023-2025 House Budget Proposal
The budget proposal released yesterday shows that House budget writers would limit spending to prove an ideological point rather than fulfill their responsibility to fund the public schools, public health, and public parks that can deliver well-being to everyone in NC and propel our economy and communities forward.
Governor’s NC budget would stop some of the deep income tax cuts for rich people and corporations
The Governor’s budget would take a modest step toward making sure North Carolina has the revenue we need for things like education, clean air and water, and child care. Even better, the proposal would do it the right way, by requiring rich people and corporations to chip in more for these vital services.
NC Governor’s plan: A budget proposal that offers restrained hope
Governor Cooper’s proposal would increase spending, after years of underinvestment, to $32.9 billion in fiscal year 2023-2024, which begins this coming July and ends in June 2024, and $34.2 billion in fiscal year 2024-2025. However, the second-year spending proposal (2024-2025) will be subject to changes next year during the “short” legislative session.
Notable priorities reflected in the proposal include halting tax cuts on individual income tax filers with higher incomes, stopping the elimination of the corporate income tax by keeping it at its current rate, expanding Medicaid as early as summer 2024, and fully funding the remedial plan in the long-standing Leandro legal case regarding funding for a sound, basic education for every child in North Carolina.
Dollars & Democracy: A primer on how NC can build thriving communities
Updated March 23, 2023 Download a PDF of this publication Originally produced by and now reproduced and updated with the permission of the North Carolina Justice Center (Dollars & Democracy, 2019)
Statement from Alexandra Sirota, Executive Director of the NC Budget & Tax Center, on the Governor’s budget proposal
Statement from Alexandra Sirota, Executive Director of the NC Budget & Tax Center, on the Governor’s budget proposal (Wednesday, March 15) — 2023 is a year when North Carolina can and must lay the foundation for a better future. The Governor’s budget provides important guideposts to measure our progress forward together: the necessary collective commitment to…
This Pi Day, the pie is shrinking in NC. Here’s what that means for North Carolinians
North Carolina’s income tax provides a critical source of public dollars to invest in opportunity across the state, but legislative leaders have been relentless in cutting the income tax rates for corporations and the wealthiest individuals. The result is that a greater share of NC’s budget funds comes from sales tax, which means those with low- and middle-incomes pay a greater portion of their income when when buying goods and certain services in our state.
NC’s budget details will matter for a healthy state
Budget details will matter for taking the full measure of our state’s progress in making sure people’s health and well-being is protected. A budget to support North Carolina’s health should: Sustain the commitment to people’s health and well-being for the long-term by protecting revenue sources; Recognize that people are healthy when they are safe on…
NC’s revenue forecast could be so much better if corporations and the wealthy paid what they owe
NC now has more public dollars than was projected in the last revenue forecast to spend on priorities like children’s education, worker training, access to child care and affordable housing for their families, and infrastructure to connect more communities to the internet and more people to good quality jobs nearby.
NC advocates support introduction of bill to halt corporate income tax elimination
Advocates and organizations around North Carolina applauded the introduction of the Make Corporations Pay Their Fair Share bill in the NC Senate and House this week that would halt the phasedown of the corporate income tax in North Carolina at the current rate of 2.5%.
NC schools are struggling to survive while rich people and corporations keep getting tax cuts
Wave after wave of tax cuts have diverted public dollars into the pockets of wealthy people and corporations, all while the General Assembly has refused to give schools the funding they need to find and keep teachers, bus drivers, janitors, counselors, and other people it takes to nurture our children.