NC’s $30 billion budget passed in the General Assembly on Friday, Sept. 22, and will go into effect 10 days from Friday. The budget includes state employee pay raises, tax cuts, support for children, and more. Let’s talk about the biggest numbers in this new NC budget.
- $2 billion in grants for water and sewer infrastructure will go to rural communities.
- $700 million will go to highway maintenance projects.
- $1.2 million will go to child care grants.
- State employees will receive an average 7% raise across the state.
- Personal income tax will be reduced to 3.99%.
- The budget includes funding to plan a new business school at NC State.
- Students who qualify for reduced-price programs will receive free lunches.
- A section of I-40 will be named after Cherie Berry, the first female Commissioner of Labor in NC, who you may know from the elevators.
- Breast pumps and related breastfeeding equipment will be exempt from sales tax.
If you’re feeling up for it, read the full 600-page document for more details.