August 9, 2021

Even better news came out over the weekend about North Carolina’s budget surplus.

According to the Office of State Budget and Management, tax revenues coming in to state coffers in the last fiscal year ending June 30 totaled $29.7 billion.  That’s $190 million more than projections released in a mid-June report from OSBM and General Assembly fiscal analysts.

The mid-June report had bumped up predictions for the fiscal year by an astounding $1.9 billion over last year’s revenue.  Adding another $190 million must have some dropping their jaws.

The current budget plan adopted by the NC Senate as reported and lauded here last week, and now being negotiated with the NC House, is to return much of the surplus to taxpayers in various tax cut measures.

And that is what should be done.  Give the money back to hard-working middle class taxpayers to spend that money as they see fit to benefit their families.

The liberals will howl once again as they always do to spend it on this program or that.  If they can’t find something that works, they’ll make up something.  It’s in their nature just like dogs bark and cats meow.

But keeping on course with the tax cut plan and returning money to taxpayers is the right decision.  And giving more money back to taxpayers will help employers who have not recovered from the COVID shutdowns, especially in the service and hospitality industries, as taxpayers spend some of that money in the free market.

Liberals have typically used newfound money to create more government programs – usually promising that they’ll only be “temporary” and will go away.  That’s how our government got so bloated and big.  Government programs rarely go away because no politician wants to make any segment of the voting population mad.

So it’s great news that there’s an even bigger government surplus than we thought.  Let’s hope the wisdom of legislative leaders holds and they return even more money to taxpayers.