Crescendo may not be the final note; $1B in additional revenue projected

(The Center Square) – Lucky 13.

To be fair, North Carolina’s economic pulse has hardly just arrived. The low point was just prior to 2011, and the crescendo from the Legislative Building on Jones Street this week was a report from the Financial Research Division estimating $1 billion in additional revenue.

That’s a long way from teacher furloughs, multiple layers in a tax bracket reaching 7.75% to rank higher than any Southeast neighbor, and gross state product below the national average. It began with Republicans, for the first time since Reconstruction following the Civil War 140 years earlier, winning both chambers and doing so by overcoming districting maps drawn by Democrats.

Democratic Gov. Bev Perdue was yielded impotent her final two years, a Republican won the governor’s mansion for only the third time since 1901 during the 2012 Obama reelection campaign, and tax reform and fiscal responsibility followed.

House Speaker Tim Moore
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