New Leadership
Comparison of leadership:
In 2011, there was a historic event that happened. New leadership took the majority in the North Carolina General Assembly for the first time in over 140 years.
The new leadership in the General Assembly had a daunting task. When they took the majority, they had to deal with a $2.75 billion federal debt, an economy that was the 8th worst in the county, and a staggering unemployment rate that was 5th worst in the country.
Since 2011, the new leadership paid off $2.75 billion in federal debt, balanced the budget, created a budget surplus, and saved $1.6 billion for the rainy day fund. Thankfully, the new leadership saved for a rainy day, because with Hurricane Matthew in rained hard. Estimated damage was at $1.5 billion, and the new leadership saved $1.6 billion just for emergencies like Matthew. The budget surplus was over $1.2 billion; the new leadership paid off debt, saved, and didn’t raise taxes.
Since 2011, the new leadership has reduced the personal tax rate from 7.98% to 5.49% and the new leadership has reduced the corporate tax rate from 7.1% to 3%. On top of this, North Carolinas tax climate ranking has moved from 44th to 11th, which has incentivized small businesses to start in North Carolina. This has led to North Carolina consistently having one of the fastest growing economies and being one of the best places to do business in America.
The new leadership in the General Assembly has taken the reigns of our state and led us in the right direction. They took over an impossible situation and have turned our state around to be one of the best states to live, work, and play. The left refuses to give credit to this, as they continue to mislead voters on the economic success the new leadership has helped accomplish.