The North Carolina Senate on Wednesday gave initial approval to a roughly $23.9 billion state budget. 

 

The final budget includes: 

•         Invests close to $700 million additional dollars in public education.

•         Provides an average 6.5 percent pay raise for teachers and a 6.9 percent increase to the principal salary schedule. 

•         Includes new initiatives to help keep students safe in North Carolina classrooms.

•         Sets aside $241 million in lottery funding to build or upgrade school facilities.

•         Directs more than $200 million toward compensation increases to state employees, including a two percent permanent pay raise for most state workers and larger increases for State Highway Patrol troopers and correctional officers.

•         Delivers a $1.5 billion tax cut that will result in 99 percent of taxpayers either paying less or paying no state personal income taxes at all.

•         Allocates an additional $60 million to help victims of Hurricane Matthew rebuild.

•         Establishes the Growing Rural Economies with Access to Technology (GREAT) program to address broadband needs in the state's rural areas.

•         Includes funding to help ensure access to clean water for North Carolinians affected by GenX pollution.

•         Makes key changes to economic development programs that are expected to secure thousands of new jobs and billions in new investment to the state.

•         Adds $161 million to the state’s rainy day fund, which lawmakers have built to a historic high of $2 billion to ensure North Carolina is well-prepared for the next natural disaster or economic downturn.