RALEIGH – The General Assembly has set its budget total for 2021-22.
General fund spending will be set not to exceed $25.7 billion, an increase of nearly 3.5%. Next year’s cap is set not to exceed $26.7 billion, or an increase of approximately 3.65%.
In a joint statement, Senate Leader Phil Berger (R-Eden) and House Speaker Tim Moore (R-Kings Mountain) said, “This agreement builds on the last decade of responsible Republican-led budgets resulting in a boom decade that put North Carolina on a strong trajectory to recover from the recession. As we work out the details of the budget, we intend to fulfill our commitment to balance the budget while saving for future needs and cutting taxes for the vast majority of residents.”
The agreement reached also does not include a bond or Medicaid expansion, items Gov. Roy Cooper has wanted included.
“The agreement dedicates at least $4.2 billion in new capital spending funded through the State Capital and Infrastructure Fund to support critical needs across the state, including several transformational projects,” the statement said.
The Associated Press reported that until last week, the two chambers were hundreds of millions of dollars apart on a target, with the Senate wanting to spend less than the House.
The two chambers will now negotiate a final package to send to Democratic Gov. Roy Cooper. Cooper’s budget proposal would spend $26.6 billion.