JUST RELEASED: Five Strategies for Fiscally Responsible Budget
North Carolina’s ability to compete and thrive in a dynamic 21st century economy requires a tax system that raises adequate revenue for public investments that promote broadly shared economic prosperity. Five years into a national economic recovery, North Carolina has failed to achieve financial stability. The slow pace of job creation is one reason, but the major cause is the reduction in revenue that resulted from the 2013 tax plan passed by state lawmakers, which largely benefited well-off North Carolinians at the expense of middle- and low-income earners.
In the first 100 days of the legislative session five strategies should be at the top of policymakers’ agenda to ensure a financially responsible biennial budget is put in place. In this new brief, BTC outlines five revenue options that should be on the table to close the anticipated gap between state revenue and what we need to fund education, health and other building blocks of a strong economy.
Read the complete brief here.
IN FOCUS: 2013-2015 Budget Toolkit
The NC General Assembly will embark on setting the biennial budget for FY 16-18 this session. The state budget is a reflection of the priorities of the state and an opportunity to invest for current and future opportunities.
Check out our fact sheet on the last two-year budget here: 2013-2015 Budget Factsheet.
For more tools to talk about the state budget and use this research and analysis, visit the Together NC's Budget Toolkit here.
Here are some of our issue-specific fact sheets from the first year of the biennial budget.
ABOUT OUR STATE BUDGET WORK
The state budget is a reflection of North Carolina’s values and commitment to supporting economic opportunity and investing in the state’s future. The Budget and Tax Center produces rigorous analysis of state budget proposals to determine if they adequately fund public structures and services, particularly those that promote shared prosperity, quality education, and healthy communities.
Public Investments – Every year, the Budget and Tax Center produces a report on each of the state budget proposals—from the governor, the NC House and the NC Senate—and one on the final budget. We analyze the budgets to determine if they make adequate investments in education, health and human services, the courts and public safety, transportation and the environment. Legislators often refer to our analyses during budget debates, and public officials and progressive organizations throughout the state rely on our reports to help them understand the state budget and what it means for their communities and issue areas.
Fiscal Responsibility – The Budget and Tax Center is the only research organization that looks not only at what investments the state is making but also how it pays for them. In addition to our tax analysis, we look at how decisions about savings, fund transfers, and the use of one-time money affect the state’s long-term fiscal health. The Budget and Tax Center also monitors the transparency and accountability of the budget process.
Human Impacts – The budget makes a difference in our everyday lives and the vibrancy of our communities. The Budget and Tax Center works to engage with communities on the budget and its impacts and monitor and document how it is affecting North Carolinians.