
Articles
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1 week ago |
wral.com | Laura Leslie |Josie Zimmer |Mark Bergin
Critics of the Republican-penned federal budget bill that passed the U.S. House last week say proposed cuts to federal spending could mean deep cuts to safety-net programs that help some of North Carolina’s most vulnerable citizens. They could also leave a significant hole in the state budget, which state budget analysts expect to soon be in the red. Federal funds, mainly through block grants, account for a sizable chunk of the state’s spending on social services, education and disaster recovery.
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1 week ago |
wral.com | Laura Leslie |Josie Zimmer
This is a picture of the North Carolina flag, although it's a bit tattered. As North Carolina legislative leaders begin to negotiate a spending plan for the next two years, they’ll have a little less money to work with than expected. Economic forecasters who work in state government have revised their budget projections downward for the next two years. Forecasters at the legislature and the Office of State Budget and Management come to what’s known as a consensus revenue forecast every year.
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1 week ago |
wral.com | Mark Bergin |Laura Leslie |Josie Zimmer
North Carolina is among the top states in the country for clean energy technology, from solar panels and battery plants to electric vehicles and public chargers. But changes at the federal level could slow down that boom. The 2022 Inflation Reduction Act funneled hundreds of millions of dollars to North Carolina’s clean energy sector, providing tax credits for businesses and consumers that invested in it, as well as funding for infrastructure like EV charging stations.
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1 week ago |
wral.com | Laura Leslie |Josie Zimmer
As North Carolina House and Senate lawmakers negotiate a final budget deal, tax policy is likely to be a major sticking point between the two chambers. House and Senate Republicans have already agreed to cut the state income taxes in tax year 2026 by a quarter percent, from 4.25% to 3.99%. The Senate budget proposes an even bigger tax cut in 2027, lowering the rate another half-point to 3.49%.
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2 weeks ago |
wral.com | Laura Leslie
Republican North Carolina lawmakers questioned the leaders of Gov. Josh Stein’s Hurricane Helene recovery program Thursday about their rationale for awarding a key contract and the timing of political donations by one of Stein’s chief recovery advisors. The Governor’s Recovery Office for Western North Carolina, or GROW NC, has been managing recovery efforts for the September storm, the biggest natural disaster in state history.
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