Higher than expected growth in personal income, higher than expected wage growth, and higher than expected business profits drive by Republican economic policies have given the state of North Carolina yet another tax revenue surplus for the first third of the fiscal year.
Just another day at the office for North Carolina Republicans, as the GOP, led by Governor Pat McCrory, has completely turned around a state economy teetering on the brink of failure after years of Democrat leadership.
The $191 million more in tax revenue than expected collected by the state since October, follows a $425 million surplus for the fiscal year that ended June 30.
“At a time when neighboring states ended the fiscal year with steep revenue deficits, our continued economic growth, job creation and responsible financial management have helped North Carolina post another revenue surplus,” McCrory said in his statement announcing the surplus.
“In an environment of historic tax cuts to the tune of $4.7 billion, revenues coming into the state continue to increase.”