The General Assembly’s Fiscal Research Division released official state revenue numbers this week showing North Carolina has a $445 million budget surplus – $45 million more than earlier projections.
When the Republican legislature passed the largest tax cut in state history two years ago, some skeptics made exaggerated predictions that it would starve state government. But tax reform has actually made our state’s tax climate more competitive, resulting in job and economic growth. Over the past few years, North Carolina has not only outpaced many of our neighboring states, but also much of the nation in job growth.
Senate Republicans will remain focused on the same policies that helped yield this surplus – cutting taxes while investing in core priorities like education, infrastructure and public safety.