North Carolina 2021-2023 budget allocates funds for Franklin County infrastructure
By Franklin County Republican Party
Louisburg, NC – North Carolina Gov. Roy Cooper recently signed the state’s 2021-2023 budget bill, indicating the compromise budget negotiated by the Republican-majority General Assembly and a number of Democrat legislators “moves North Carolina forward in important ways, many that are critical to our state’s progress as we’re emerging from this pandemic.”
The state budget allocates $25.9 billion during 2021-2022 and $27 billion during 2022-2023. The Rainy Day Fund balance increases to $4.25 billion by July 2023.
The budget includes:An average of 5% to 6.7% pay raises over two years for state employees and teachers;
Bonuses of at least $1,000 for state employees;
Bonuses of $1,000 to $2,850 for teachers;
An additional $100 million in recurring state funding to supplement teacher pay in 95 “low wealth” counties;
State and teacher retiree COLA (cost-of-living adjustment) bonuses of 5%;
A minimum wage of $13 an hour during 2021-2022 and $15 an hour during 2022-2023 for non-certified public-school employees;
A reduction of personal income tax over time to 3.9%, starting with a reduction to 4.9% next year;
A phase-out of corporate income tax by 2031;
Eliminating state tax on military pensions;Expanding broadband, water and sewer infrastructure projects;
Providing $878 million for state agency capital projects;
Limiting the length of a state of emergency issued by a governor to 30 days without agreement from the rest of the Council of State and 60 days without agreement from the legislature.
North Carolina House of Representatives District 7, which includes Franklin and part of Nash County, will receive $23,315,000 for infrastructure improvements, according to Dist. 7 Rep. Matthew Winslow.
“My priority has always been to put the government to work for the people in order to get much-needed projects funded while remaining fiscally responsible by lowering taxes and putting money in the rainy day fund,” Winslow said.
According to Winslow, budgeted projects that will have a direct impact on Franklin County include:
$700,000 - Town of Louisburg Depot Hill Civic Center;
$50,000 - Northeast Economic Development Committee;
$25,000 - Town of Franklinton Capital Improvements;$1,000,000 - Youngsville Main Street Improvements;
$7,400,000 - Vance-Granville Community College Capital Improvements, and;