House and Senate leaders announced last night that they have come to an agreement for the state budget. The budget is scheduled to be voted on in the next couple of days by the legislature and then will go to Gov. McCrory’s desk for his signature later this week.
The N&O has a rundown of the highlights here.
Some highlights of the spending plan:
- Total spending would be $20.6 billion, up about 2.5% from last year’s budget, and would mark a 39% increase in the state budget over ten years
- Includes revenue projections from the tax reform package agreed upon last week
- An additional $1.5 billion in extra funding for Medicaid to cover massive cost overruns; and includes a provision allowing for the state’s executive branch to develop a reform plan for the program
- Eliminates teacher tenure and shifts to a system of teacher contracts based upon job performance
- Implements opportunity scholarships in the second year of the biennium, providing vouchers of up to $4,200 for low-income families to use toward educational choice
- Allocates $12.4 million in lottery funds to finance an additional 2,500 slots in the NC Pre-K (formerly More at Four) program
- Zeroes out funding for the troubled NC Rural Economic Development Center, while creating a new Rural Economic Development Division within the state Department of Commerce
- Provides no pay raise for state employees and teachers, but does offer an additional five days of paid leave
Leave a Comment