$265.8 million; remember that number. That’s North Carolina’s projected revenue surplus, according to the Fiscal Research Division (FRD) of the North Carolina General Assembly. The revision adds another $75.2 million to an earlier estimate of $190.6 million, which was reported two weeks ago on this blog. The figures are included in the State Controller’s General Fund Monthly Financial Report.
Source: Office of the State Controller: General Fund, Monthly Financial Report
Four years of tax reductions and four years of revenue surpluses. That’s a strong argument for real tax reform and controlling state spending.
The government watchdog organization, Truth in Accounting reports that 25 states are facing revenue shortfalls in 2018.
Thank our legislative leaders – and Tar Heel taxpayers — that North Carolina is not one of them.