Highlights Of Governor McCrory's Proposed Budget | Eastern NC Now

Prudent fiscal management is our first responsibility as stewards of taxpayer dollars...

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Press Release:

Prudent fiscal management is our first responsibility as stewards of taxpayer dollars.


  • No tax increases are proposed in this budget.
  • Proposed budget grows more slowly than inflation and population remaining well below the statutory cap.
  • Strengthening and enhancing reserves in excess of $650 million will support our position as one of only ten states with a Triple A bond rating from all three major rating agencies:
    • Allocates an additional $47 million to the Savings Reserve Account, bringing the total balance to $698 million.
    • Provides $47 million for the Repairs and Renovations Account to maintain state infrastructure.
    • Establishes a new Medicaid Risk Reserve fund at $175 million over the biennium to provide a buffer against inevitable uncertainty in one of our biggest cost drivers.
  • This budget assumes enactment of a cut in the gasoline tax from 37.5 to 35 cents per gallon.
  • This budget is balanced, consistent with our state constitution and responsible governance.

  • Contact: Crystal Feldman
  •     govpress@nc.gov

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