Governor Josh Stein Issues Urgent Warning on North Carolina’s Fiscal Future

Governor Josh Stein Issues Urgent Warning on North Carolina’s Fiscal Future

RALEIGH, N.C. — In a sobering statement released today, Governor Josh Stein cautioned that North Carolina is approaching a fiscal cliff that could jeopardize the state’s ability to invest in critical areas such as rebuilding efforts in western North Carolina, public education, healthcare, and infrastructure. This warning follows the Office of State Budget and Management’s (OSBM) latest General Fund Revenue Forecast, which, despite showing positive short-term figures, indicates long-term financial challenges ahead.

“While today’s consensus revenue forecast for this year is positive, North Carolina is approaching a fiscal cliff that threatens our ability to invest in rebuilding western North Carolina, strong public schools, people’s health, infrastructure, and other services we need to make North Carolina safer and stronger,” Governor Stein stated. “With a growing economy and population, it shouldn’t be this way.”

Governor Stein emphasized the need for proactive measures to address the impending financial challenges. He expressed his commitment to collaborating with the legislature to develop solutions that will allow continued investment in the state’s future. This includes ensuring that essential services and programs remain funded and effective for all North Carolinians.

The governor’s statement also highlighted the importance of bipartisan cooperation in navigating the state’s fiscal landscape. He called on lawmakers from both parties to work together to find sustainable solutions that will benefit the entire state. This approach aims to prevent potential cuts to vital services and to maintain the progress North Carolina has made in recent years.

Governor Stein’s warning serves as a call to action for state leaders to address the looming fiscal challenges head-on. By fostering collaboration and focusing on long-term financial stability, North Carolina can continue to build a prosperous future for its residents.

As the state prepares to tackle these financial issues, Governor Stein remains dedicated to ensuring that North Carolina remains strong and resilient in the face of economic uncertainty. His administration will continue to prioritize the well-being of its citizens and the sustainability of its essential services.