With the legislative session one week away, Republican legislative leaders Speaker Tim Moore (R-Cleveland) and Senate President Phil Berger (R-Rockingham) announced earlier today that they have agreed on a $23.9 billion spending target for the 2018-19 state budget. That’s a growth rate of 3.85 percent over last year and includes $866 million in increased spending.
The agreement gives a nod to approving a fifth consecutive pay raise for teachers (specifics not yet unannounced) and still allows North Carolinians to keep more money in their pocket.
Lawmakers deserve our thanks for their work on holding the line on spending in recent years and approving significant tax reform. That hard work laid the groundwork for four consecutive revenue surpluses — including an expected $356.7 million surplus this year.
It’s a long way from multi-billion-dollar budget deficits….