“Arbitrary and flawed formulas” will reduce revenue by nearly $2 billion annually
RALEIGH (August 11, 2015) — The radical changes to the state Constitution given tentative approval by the Senate today puts policymakers’ primary responsibility of creating a budget each year on auto-pilot.
These arbitrary and flawed formulas for spending growth and income tax collections will reduce revenue by nearly $2 billion annually and restrict access to the state’s rainy day fund in times of crisis. It’s clear these proposals are a fiscally irresponsible path that will harm our state’s families and future.
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