North Carolina House Speaker Tim Moore said the General Assembly is working to avoid financial disasters during the pandemic. | North Carolina House Speaker Tim Moore Facebook
North Carolina House Speaker Tim Moore said the General Assembly is working to avoid financial disasters during the pandemic. | North Carolina House Speaker Tim Moore Facebook
As National Public Radio (NPR) reports on the financial standings of states after the COVID-19 pandemic, it brought forward that North Carolina has been in better standing than many other states, Republican lawmakers said in August.
“Our Republican-led legislature refused to allow a repeat of 2008 for North Carolinians hurt by Democrats’ irresponsible budgeting,” House Speaker Tim Moore (R-Cleveland) said in a press release from North Carolina House Republicans. “This General Assembly made the right policy choices that weren’t always politically popular to prepare our state for times of peril. Now, those successful commitments to fixing broken programs, repaying debt, and balancing budgets have been vindicated by the benefits of our strong savings and surpluses in times of crisis.”
North Carolina has a strong amount of cash on hand when compared to other states that were harder hit financially due to the coronavirus pandemic, the Republican release said. While the state could face a 10% drop in $4 billion of revenue, it still has surpluses from previous years and a large rainy day fund to help with any financial drops.
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