North Carolina faces additional $620 million revenue hit over coming years
Nonpartisan budget analysts see North Carolina on a worse financial footing than previous estimates showed. The latest forecast has the state taking in $620 million less than initially anticipated.
A new report from nonpartisan budget analysts within the North Carolina General Assembly’s Fiscal Research Division and Office of State Budget and Management show the state on track for greater financial hardships than previously expected.
In February, the group estimated the state would bring in $34.7 billion for the fiscal year ending June 30, $34.9 billion in the next fiscal year and $34.1 billion for the 2026-2027 fiscal year, representing a total revenue of $103.7 billion.
Revised estimates now show the state taking in $34.5 billion this year, $34.7 billion next year and $33.8 billion in 2026-2027, or $103 billion. Compared to the February report, the latest projections represent a $620 million hit over three-year period.
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