Tuesday numbers

Tuesday numbers

- in Fitzsimon File

numbers429

1.6 billion—amount in dollars that Gov. Pat McCrory’s budget would invest next year in education, health care and other public services below what the state invested before the Great Recession when you adjust for inflation (“Missing the Mark: Governor McCrory’s Budget Proposal is Hampered by  Last Year’s Tax Changes and Revenue Shortfalls,” N.C. Budget & Tax Center, May 2014)

7—percentage decline in investments in education, health care and other public services in Gov. McCrory’s budget compared to the last budget passed before the Great Recession when adjusted for inflation (Ibid)

5.9—percentage decline in investment in public schools in Gov. McCrory’s budget for 2014-2015 compared to what the state invested in 2007-2008 adjusted for inflation (Ibid)

12.3—percentage decline in investment in the UNC system in Gov. McCrory’s budget for 2014-2015 compared to what the state invested in 2007-2008 adjusted for inflation (Ibid)

2,679—amount in dollars of reduction in per-pupil spending in the university system in Gov. McCrory’s budget compared to amount spent in 2007-2008 when adjusted for inflation (Ibid)

438 million—amount in dollars of the cost of the tax cuts passed last summer that is built into the revenue forecast for the 2014-2015 budget that state lawmakers will pass this session (Ibid)

191 million—amount in dollars of the projected state budget shortfall in 2014-2015 in the consensus revenue estimate between the Office of State Budget and Management and the Fiscal Research Division of the N.C. General Assembly, the shortfall addressed in Gov. Pat McCrory’s budget (“Raising the Bar in the Budget Debate: North Carolina should rebuild for the future, not cut back,” N.C. Budget & Tax Center, May 2014)

600 million—amount in dollars of the potential state revenue shortfall in 2014-2015 because of the higher than expected cost of the personal income tax cuts enacted in 2013 (Ibid)

409 million—amount in dollars that the budget presented by Gov. Pat McCrory could be out of balance by the end of 2014-2015 thanks to the underestimated revenue shortfall caused by the tax cuts passed in 2013 (Ibid)

19.8 million—amount in dollars that Gov. McCrory’s budget would cut in funding for teacher assistants in 2014-2015, continuing the reductions made in the 2013-2014 budget (“Missing the Mark: Governor McCrory’s Budget Proposal is Hampered by  Last Year’s Tax Changes and Revenue Shortfalls,” N.C. Budget & Tax Center, May 2014)

25 million—amount in dollars of the cost of additional tax break for multi-state corporations now under consideration by state lawmakers (“House to vote on e-cig taxes, other changes, WRAL-TV, May 15, 2014)