North Carolina revenue forecast sees slight uptick
RALEIGH, N.C. (AP) — Top economists at the General Assembly and for Gov. Roy Cooper expect a slightly higher uptick in North Carolina government tax collections as they build out the next state budget.
The legislature’s fiscal office released the updated agreed-to forecast this week. It predicts overall revenues for the fiscal year ending June 30 will be $151 million higher than anticipated when the current year’s budget was approved.
That’s less than 1 percent of the $24 billion current budget, but is on top of the $365 million in additional revenue lawmakers already anticipated compared to last year. The fiscal office memo warns revenues can change significantly in April.
Cooper will soon unveil a proposed budget through mid-2021. The legislature will then pass a plan and present it to Cooper for his signature.