Gov. Cooper proposes to expand state’s budget to $29.3 billion, increasing investment in schools and economy
RALEIGH, N.C. — Gov. Roy Cooper recommended that the North Carolina General Assembly increase the state’s budget for the 2022-23 fiscal year by billions of dollars.
In the budget recommendations, Cooper hopes that the state will increase funding to education, state employees and housing assistance.
Initially, the state was planning on spending $27 billion, but Cooper wants to increase that to $29.3 billion.
According to a memo released by the General Assembly on Monday, economists at the legislature and Cooper’s budget office now believe state coffers should take in $4.24 billion more in the fiscal year ending June 30 than predicted the previous June. That’s a nearly 15% increase, bringing overall revenues this year above $32.65 billion.
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