Phil Berger (R-Rockingham) said, “While this year’s surplus is welcomed news, we need to be cautious as we prepare the budget. President Pro Tem of the state Senate Sen.
The surplus is a significant increase over the current fiscal year’s budget.” Moore continued “Today’s consensus revenue forecast confirms that North Carolina’s tax policies are fueling economic growth. North Carolina state House Speaker Tim Moore (R-Cleveland) in a press release said, “The surplus projected in today’s consensus revenue forecast demonstrates the economic strength of our state, which has attracted both businesses and families to North Carolina.” When Republicans took over control of state government a decade ago and announced a plan to reduce taxes, Democrats predicted huge budget deficits, but because of economic growth in the state the opposite has happened with the state budget. North Carolina has recently been ranked as the best state in the country to do business by CNBC and Business Facilities magazine. The consensus revenue forecast for the state of North Carolina released this week projects a one-time $3.25 billion budget surplus.
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