Tag:rainy day fund

  • Weathering the storm through bold leadership 

    If we learned one thing during the devastation and recovery from Hurricanes Florence and Michael, it’s that setting aside more than $2 billion in savings for a rainy day was a very good idea. But that $2 billion didn’t just magically appear. It came from hard decisions, focused…

  • Special session for Florence relief may be needed, lawmakers say

    UPDATE: Gov. Roy Cooper has called for the General Assembly to reconvene Oct. 9 in Raleigh for a special session tied to hurricane relief. The General Assembly could convene a special session to allocate Hurricane Florence recovery money from the state’s rainy day fund, although some money is…

  • Revenue trend doesn’t merit panic

    While General Fund revenues to date are a bit below projection, they are still higher than General Fund spending, meaning that the state budget has a net cash surplus so far this fiscal year of $350 million.

  • A never-ending fight for freedom 

    The 2017 legislative long session is over. Kind of.  In the wee hours of June 30, on the eve of the new fiscal year, the General Assembly adjourned, only to schedule encore sessions in August and September.    The session started with what seemed like the unending distraction…

  • Senate approves bill capping income tax rate

    RALEIGH ­— The state Senate has given its approval to a proposed constitutional amendment capping the income tax rate at 5.5 percent, but one lawmaker has a better idea. Applying some fiscal restraint, said Sen. Jerry Tillman, R-Randolph, could eliminate the…

  • House approves bill to bolster rainy day fund

      RALEIGH — The House on Wednesday overwhelmingly approved a bill aimed at beefing up the state’s rainy day fund. “It takes North Carolina from frankly one of the weaker savings regiments of any state to what the Pew Center believes will be one of the…