Civitas Review

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    Senate Approves Corporate Welfare Expansion, $2 Billion Bond

    Posted in Budget & Taxes, Civitas Review By Brian Balfour | Tagged , ,

    Last night the NC Senate unanimously approved an expansion of the state's Job Development Investment Grant program (JDIG), which is a taxpayer-funded handout to companies meeting politically-invented "job creation" thresholds (translation: mostly hires people away from competitors). The compromise would increase the cap on incentive awards to $20 million a year. The cap would be […]

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    House, Senate Agree to Increase State Debt

    Posted in Budget & Taxes, Civitas Review By Brian Balfour | Tagged , ,

    Fresh off of agreeing on doling out $30 million of taxpayer dollars to Hollywood cronies, the NC House and Senate reportedly has agreed to a bond referendum worth between $1.5 and $2 billion. If approved, the bonds will increase the state debt by the bond amount plus tens or hundreds of millions of dollars of […]

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    House Proposes Its Own Bond Referendum

    Posted in Civitas Review, Transportation & Infrastructure By Brian Balfour | Tagged , , ,

    Budget negotiations on Jones Street have been eerily quiet for weeks, but late yesterday came news that the N.C. House is offering up a $2.8 billion bond plan, mostly dedicated to infrastructure such as state gov't and university buildings. Per the N&O: Republican leaders in the state House rolled out their own version of Gov. […]

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    Treasurer's Office Report Says New State Debt Won't Threaten Credit Rating

    Posted in Budget & Taxes, Civitas Review By Brian Balfour | Tagged ,

    The state Treasury Department has released its annual Debt Affordability study, and the report concludes that North Carolina once again can issue state debt without threatening its credit rating. From WRAL: State Treasurer Janet Cowell says state lawmakers have plenty of room to borrow money through bonds – as much $4.5 billion over the next […]

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    NC Expecting to Pay off UI Debt Early, Saving Millions

    Posted in Budget & Taxes, Economics By Brian Balfour | Tagged ,

    North Carolina's massive debt to the federal government for funds borrowed to cover unemployment insurance is on pace to be paid off by the end of 2015, according to Division of Employment Security head Dale Folwell. From the N&O: The state’s debt to the federal government, money it borrowed to pay unemployment benefits, peaked at […]

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