rainy day fund

Other states have begun to worry about the coronavirus shutdown’s impact on their economies and state government finances. Energy producing states like Colorado and Texas must deal with plummeting…

Our budget stalemate may have an unexpected and unintended benefit. Because the General Assembly and Gov. Roy Cooper could not agree on a new budget, state government has been operating…

While the federal government’s deficit and debt grow, it seems families and state governments have become better savers during the current recovery. North Carolina’s budget picture is improving, with revenues…

By now you know the major points of the state budget: it spends $23 billion in the first year and $23.6 billion in the second year, reduces the tax rates…

State lawmakers are being asked to tap the rainy day fund to finance hurricane relief. They should look more closely at the details of the administration proposal. It provides large windfalls to businesses, farmers, homeowners, and others far beyond what is needed to alleviate immediate suffering and repair public infrastructure. A relief plan reflecting better priorities could be financed with budget savings, so the rainy day fund could be used to repay $240 million in illegal taxes.