By Tazra Mitchell
Policy Analyst, Budget & Tax Center
The two-year budget approved by the North Carolina General Assembly and signed by Governor McCrory falls far short of what was needed to meet the needs of children, working families and communities. As such, it will continue to hamper North Carolina’s full recovery from the Great Recession. Instead of investing adequate resources in schools, health care, public safety and the other building blocks of a strong and enduring economy, state lawmakers chose to make room for tax cuts for the wealthy and profitable businesses that will cost $683.8 million in lost revenue over the next two years, and $2.8 billion over the next five years.