FACTSHEET: New State Budget Puts North Carolina on a Path to Mediocrity

August 2013

Lawmakers handed us a budget that puts the train on the wrong tracks. This budget 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 public priorities like education, state lawmakers chose to make room for tax cuts for the wealthy and profitable businesses that will cost over $2 billion over the next 5 years.

State lawmakers approved a $20.6 billion budget for the 2014 fiscal year and a $21.0 billion budget for the 2015 fiscal year. Although the 2014 budget exceeds last year’s in overall dollars, it still falls short of what was needed to maintain current service levels in 4 of the 6 major budget areas, including the K-12 system.

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