North Carolina Faces $4 Billion Shortfall From Shutdown

North Carolina government is now facing the economic reality of their voluntary shutdown.

North Carolina could face a $4.2 billion budget shortfall due to the economic impacts of the coronavirus and the shutdown implemented to stop its spread, the state’s budget forecasters predict.

Now congressional Republicans and Democrats are debating the best way to help states and local governments.

“It is clear that we continue to need significant federal resources to recover,” Gov. Roy Cooper wrote members of North Carolina’s congressional delegation earlier in May.

“If that’s not dealt with, then state government and local government are going to have to make significant cuts in core services like law enforcement, like education, like transportation,” the Democratic governor said at a news conference earlier this month.

Source: The News & Observer

Published by Hoosier Econ

Located out of Central Indiana. Blogger of economics, politics and societal trends.

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