Republicans tout $400 million projected budget surplus | News
News
INDY Week's news blog

Archives | RSS

Wednesday, May 6, 2015

Republicans tout $400 million projected budget surplus

Posted by on Wed, May 6, 2015 at 1:22 PM

PHOTO CREDIT: REVISORWEB. USED UNDER CREATIVE COMMONS LICENSE.
  • Photo credit: Revisorweb. Used under Creative Commons license.

On Wednesday, state budget officials announced a surprising $400 million projected surplus in the current budget year, thanks to a reduction in tax returns. Proving that projections are just projections, the state was expecting a $270 million deficit just weeks ago.

Republicans say it's proof that their fiscal policy is working. "Prudent, responsible budgeting has allowed us to invest in critical State services, and we will continue to practice conservative governance," said N.C. House Speaker Tim Moore, R-Cleveland, on Wednesday. "It is under these policies that North Carolina has begun to flourish."

Predictably, Democrats and the left see it differently. Senate Minority Leader Dan Blue, D-Wake, told the News & Observer today that the extra cash came "directly out of the pockets of middle class families."

His argument is based on GOP policies repealing tax breaks for seniors, low-wage workers and small businesses, all of which Gerrick Brenner of left-leaning Progress North Carolina cited in disparaging the "so-called" state budget surplus Wednesday.

“Revenue may be up, but working families are paying more in state taxes while their wages remain stagnant," said Brenner. "Median income in North Carolina has fallen from 38th in the nation when the GOP took control of the legislature to now 47th, below even South Carolina. If this GOP tax shift is working for anyone, it’s big corporations and people at the top."

Republican leadership is expected to decide what to do with the cash during budget negotiations in the coming weeks. Fittingly, it's Teacher Appreciation Week.

Tags: , , , , , ,

Pin It

Comments (4)

Showing 1-4 of 4

Add a comment

 
Subscribe to this thread:
Showing 1-4 of 4

Add a comment

INDY Week publishes all kinds of comments, but we don't publish everything.

  • Comments that are not contributing to the conversation will be removed.
  • Comments that include ad hominem attacks will also be removed.
  • Please do not copy and paste the full text of a press release.

Permitted HTML:
  • To create paragraphs in your comment, type <p> at the start of a paragraph and </p> at the end of each paragraph.
  • To create bold text, type <b>bolded text</b> (please note the closing tag, </b>).
  • To create italicized text, type <i>italicized text</i> (please note the closing tag, </i>).
  • Proper web addresses will automatically become links.

Latest in News



Twitter Activity

Comments

What part of illegal don't they understand. Congress is considering the DACAs plus all other illegal aliens in a bill …

by john1050 on Durham Church Offers Immigrant Sanctuary from Deportation (News)

From the WRAL story:
http://www.wral.com/former-wake-register-o…
"John Stephenson, the county's internal auditor, said an average of $1,100 to …

by Mojo on Indictments in Wake Register of Deeds Scandal Charge Laura Riddick with Embezzling $926,615 (News)

Most Read

Most Recent Comments

What part of illegal don't they understand. Congress is considering the DACAs plus all other illegal aliens in a bill …

by john1050 on Durham Church Offers Immigrant Sanctuary from Deportation (News)

From the WRAL story:
http://www.wral.com/former-wake-register-o…
"John Stephenson, the county's internal auditor, said an average of $1,100 to …

by Mojo on Indictments in Wake Register of Deeds Scandal Charge Laura Riddick with Embezzling $926,615 (News)

Hopefully Indyweek will remember all this the next time they endorse a Republican (over and over again).

by Robert Larson on Indictments in Wake Register of Deeds Scandal Charge Laura Riddick with Embezzling $926,615 (News)

Sessions has already strip mined the Civil Rights Division of the DoJ. Thankfully U.S. Senator Cory Booker, D-New Jersey is …

by growlybear on Senator Cory Booker Asks for the Release of a Department of Justice Memo on Thomas Farr’s Involvement in a Voter-Intimidation Scheme (News)

> Eventually, a claim to the county insurance company showed that $2.333,591.30 in cash had disappeared, almost daily, for nearly …

by xdu on Indictments in Wake Register of Deeds Scandal Charge Laura Riddick with Embezzling $926,615 (News)

© 2017 Indy Week • 320 E. Chapel Hill St., Suite 200, Durham, NC 27701 • phone 919-286-1972 • fax 919-286-4274
RSS Feeds | Powered by Foundation