Governor Cooper Proposes Budget to Continue Fighting COVID-19 While Investing in NC’s Future
Last Friday, Governor Cooper released his budget recommendations to fight the COVID-19 pandemic while strengthening the state’s economy through long-term investments in education and infrastructure.
Governor Cooper’s budget, among other things:
- Would invest $900 million that remains from the federal CARES Act money to directly address COVID-19 impacts.
- Would increase the duration of available unemployment benefits from 12 weeks to 24 weeks and increase the maximum weekly benefit to $500. The budget would suspend any formula-driven unemployment insurance tax increases through 2022.
- Recommends $27.5 million to combine with other funds to create a $50 million relief program to support NC businesses with rent, mortgage and utility relief,
- Use $132 million of the federal money to help K-12 public schools to protect students, teachers and staff and ensure students most impacted by COVID-19 receive support to close the coverage gap, and invest in state education including teachers and support staff and bolster the state’s health infrastructure, and affordable housing. Read the full “Support for a Determined North Carolina” Plan
- Recommends placing a $4.3B infrastructure general obligation bond on the November 2021 ballot that would invest $500 million in affordable housing and millions in other infrastructure needs.
Read the entire Press Release here.