Statement on NC House’s Proposed Budget by Alexandra Sirota, Executive Director of the NC Budget & Tax Center
In the face of extreme proposals from the NC Senate and mounting pressure from federal budget plans that would dump new costs onto North Carolina, NC House budget writers only made modest moves— far short of what’s needed to protect our communities.
The NC House’s revision to the deeply flawed revenue trigger for future rate cuts is a step in the right direction. But tweaking a broken system is not enough. It doesn’t prevent the ongoing damage caused by decades of tax cuts that have drained our ability to fund schools, health care, and the things that help build a strong foundation for our state.
This budget plan fails to stop the scheduled income tax cuts that overwhelmingly benefit profitable corporations and the wealthy — and that failure will cost all of us. Without bold action to pause these cuts and redirect resources to meet the people’s priorities for child care and affordable housing, health care and resilient food systems, the NC House budget proposal will continue to make life harder for everyday North Carolinians.
A final budget for our state must put our state’s long-term stability first by pausing both corporate and personal income tax cuts and preparing North Carolina for the challenges ahead.
