Great News for North Carolina
Great news for N.C.!
The state budget office reported that tax collections are $1.6 billion above expectations through January 31.
The revenue surge in state government’s first seven months of the fiscal year is happening in every major tax category.
Corporate and franchise taxes, along with taxes related to alcoholic beverage and real estate transactions, are among those seeing the highest percentage growth.
Why did this happen? Well, unlike the federal government we actually have to have a balanced budget. As such, the General Assembly tries to budget conservatively. Also, business and industry are learning that N.C. is a great place to do business.
As your Representative I am working every day to help keep N.C. moving in the right direction. Thank you for allowing me to serve as your representative.