Child care and education are the centerpiece of North Carolina Governor Roy Cooper's proposed $34.5 billion budget for the 2024-25 fiscal year.
Cooper released his budget Wednesday, just before the General Assembly reconvened for a short session, and its primary purpose is budget reconciliation.
The state has a $1.4 billion surplus in fiscal year 2024-25, according to the state Office of Budget and Management.
Notably, the governor's proposal includes an average 8.5% pay raise and $1,500 bonus for teachers. The plan includes a $2.5 billion school construction bond referendum scheduled to appear on the ballot in November and a $34 million boost to Propel NC, a community college program that prepares students for skilled jobs. It also includes investment.
These changes would make North Carolina's starting teacher salaries the highest in the Southeast.
In addition to these additions, Cooper continues to call for a moratorium on private school vouchers. He said the General Assembly will face tough choices during this short session between investing in education and small business tax cuts or continuing tax breaks for the wealthy and additional funding for private schools. .
“That's how billionaires choose to spend their money,” Cooper said at a press conference Wednesday.
Additionally, he noted that it is difficult to fully fund Opportunity Scholarships while also making the desired investments in public education and child care.
“It's going to be difficult for them to do all this and put it into the budget, especially given all the other priorities we have. This budget is about making choices.” Cooper said. “If we don't raise taxes, it's important not to raise taxes, but there's only so much tax money taxpayers can spend.”
His child care investment plan included $745 million. This funding will increase salaries for child care workers, support cost-sharing programs between employees and employers, and support grants for child care workers to pay for their own child care.
He said this is needed now more than ever as coronavirus funding declines.
“Federal pandemic funding is coming to an end, and only 26% of parents can afford child care,” Cooper said.
Given that Cooper has named 2024 the year of public schools, the focus on education and child care is no surprise. But the presence or absence of such investments will impact the state's status as number one in business, he argued.
CEOs say they are asking about childcare, career training and education. “They're worried that employees with young children will have to quit their jobs because they don't have child care,” Cooper said.
Mr. Cooper's plan would not increase taxes, and the proposal would “lower taxes on the first $200,000 of personal income.” He also has tax breaks for small businesses, childcare costs, and land donations for nature conservation.