Senate Passes State Budget |
State Government |
By Administrator |
Thursday, 31 May 2018 08:36 |
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.
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