• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy NC House Speaker says ‘zero’ chance final budget becomes law before September
Economy

NC House Speaker says ‘zero’ chance final budget becomes law before September

by August 8, 2023
by August 8, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

A final North Carolina state budget won’t be enacted until September, the House’s top leader said Monday. That could scuttle efforts by Gov. Roy Cooper’s administration for Medicaid expansion to begin in early fall.

House and Senate Republicans are whittling down dozens of outstanding spending and policy issues within a two-year spending plan that was supposed to take effect July 1.

While some big-ticket items like tax cuts and worker raises have been settled, other details remain unresolved. Add travel and vacations by rank-and-file lawmakers and the narrow GOP veto-proof majorities in the General Assembly, and House Speaker Tim Moore said the periods during which formal business can be conducted in Raleigh are limited.

Sen. Ralph Hise, a Mitchell County Republican and one of the chief budget negotiators, told reporters that votes on a budget agreement could happen in two weeks if differences can be worked out in a reasonable time. Any final budget could be vetoed by the Democratic governor, with override votes to follow.

When asked later Monday to describe the chances that a final budget could be carried out by the end of August, Moore replied: ‘Zero.’

‘Just with some absences I know that the Senate has on their side, and with just some of the logistics that have been talked about … you’re talking about a September date for actual passage — signing (the bill) into law and all that,’ Moore said.

A separate law that Cooper signed in March would expand Medicaid to potentially 600,000 low-income adults, but it can’t happen until a state budget law is enacted.

Cooper health Secretary Kody Kinsley unveiled a plan last month by which the expanded coverage could begin Oct. 1 as long as his agency received a formal go-ahead by legislators to accept expansion by Sept. 1. Otherwise, Kinsley said, implementation would be delayed until at least Dec. 1.

Legislative leaders have refused to permit the implementation of expansion without the budget’s passage, as Cooper has sought. But Moore suggested that Sept. 1 wasn’t a hard deadline.

Legislative leaders have provided few details on neither the agreed-upon pay raises for state employees and teachers nor the extent of additional individual income tax rate reductions. Moore said any pay raises would be made retroactive to July 1.

State government has benefitted in recent years from revenue overcollections, giving lawmakers the ability to spend more, borrow less and reduce tax rates.

The Office of State Budget & Management said Monday that government coffers collected $33.5 billion in revenues for the fiscal year ending June 30, or slightly over $3 billion above what had been anticipated to carry out last year’s state budget law. The total was $89 million less than was projected to be collected in a May consensus forecast by the state budget office and General Assembly staff.

Cooper and State Budget Director Kristin Walker have warned that deeper individual income tax cuts considered by GOP legislators could lead to shortfalls that could affect the state’s ability to adequately fund education.

Moore and Senate leader Phil Berger have said this year’s tax agreement contains language allowing deeper rate reductions only if the state reaches certain revenue thresholds. Berger and Moore planned more budget talks early this week, Moore said.

Moore said he still anticipated that legislators in his chamber would return to Raleigh next week to cast override votes on several vetoes that Cooper issued last month. Other non-budget business also could occur, he said.

<!–>

This post appeared first on FOX NEWS

–>

You Might Also Like
  • Biden’s reported move to detain migrant families marks latest rightward shift ahead of Title 42’s end
  • Blinken delivers strongest public rebuke of Israel yet: ‘Get out of Gaza’
  • New Illinois law mandates paid leave ‘for any reason’
  • Bipartisan lawmakers eye solutions for rural mental health crisis
Share
0
FacebookTwitterPinterestWhatsapp

previous post
How long is too long? Congressional health scares raise questions about fitness to serve
next post
Biden Energy Secretary Granholm pressed on talks with top CCP official before SPR releases

You may also like

Chaos erupted during embattled Democratic attorney Kim Gardner’s press conference

February 24, 2023

‘Proud of our president’: Dems heap praise on Biden for...

July 21, 2024

Barron Trump debuts at father’s Florida campaign rally to sustained...

July 10, 2024

Bill de Blasio ordered to pay $475K for misusing NYC...

June 16, 2023

Biden could issue his first veto as Congress prepares to...

February 28, 2023

JD Vance campaigns in Philly on Day 1 of the...

August 19, 2024

Hurricane season bears down as bipartisan lawmakers push to detach...

June 10, 2024

House GOP’s $14B Israel aid bill offset with cuts to...

October 31, 2023

Biden, Trump, Pence under scrutiny for classified records, potentially complicating...

January 25, 2023

State Dept denies Iran’s rare request for US assistance after...

May 21, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • From Oversold to Opportunity: Small Caps on the Move

      July 3, 2025
    • Money’s Not Leaving the Market — It’s Rotating!

      July 3, 2025
    • Tariffs and weaker beer demand are weighing on Modelo owner Constellation Brands

      July 3, 2025
    • Microsoft laying off about 9,000 employees in latest round of cuts

      July 3, 2025
    • Missed Disney’s Rally? Grab This Defined-Risk Put Spread for a Second Chance

      July 2, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,628 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,910 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,601 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,566 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,442 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,162)
    • Investing (538)
    • Stock (2,652)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • From Oversold to Opportunity: Small Caps on the Move

      July 3, 2025
    • Money’s Not Leaving the Market — It’s Rotating!

      July 3, 2025
    • Tariffs and weaker beer demand are weighing on Modelo owner...

      July 3, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,162)
    • Investing (538)
    • Stock (2,652)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Biden says Dems, GOP ‘remain committed’...

    October 5, 2023

    WATCH: White House addresses possibility of...

    September 16, 2023

    New Mexico governor temporarily suspends open,...

    September 9, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here