Policies and Initiatives
Since 2012, North Carolina has accomplished the following milestones…
- 263,000 new jobs created
- Job growth rate is 10th highest in the country
- Per capita income growth 15% larger than the rest of the country
- 34% reduction in our unemployment rate, from the 8.7% rate we inherited, to the 5.6% rate we have today.
- Maintained state’s AAA bond rating while paying off over $1 Billion of the state’s bond obligation debt
- Cut the income tax rate so you keep more money in every paycheck
- Cut the corporate tax rate so businesses want to invest more in North Carolina
- Cut and capped the fuel tax so you pay less at the pump
- Eliminated the state inheritance tax, so you can pass along your family farm or small business to the next generation
- Paid off North Carolina’s Unemployment Trust Fund debt (that we inherited) and replaced it with a $1 Billion surplus
- Setting aside $1 Billion in a rainy day fund for the state
- Fixed Medicaid overspending and went from $2 billion in cost overruns to $130 million cash surplus
- Because of these and other pro-growth economic policies:
- Went from being ranked 44th to 16th best state for business tax climate
- Site Selection Magazines #1 Most Competitive State
- Forbes Magazine’s #2 state for Business and Career Climate
- Chief Executive Magazine’s #3 for Business
- CNBC’s 5th Best State for Business
- Ernst and Young’s 3rd Lowest State and Local Tax Burden on Business
- Lifted the pay freeze on teachers enacted by the previous administration
- Raised starting teacher pay from $30,000/annually to $35,000 annually.
- Gave one of the largest teacher pay raises in state history, averaging 7% per teacher
- North Carolina is 7th in the nation for state level funding of education, spending 11% more on education than the national average
- Allocated $30 million over the next two years to Community College Presidents to be used on giving community college instructors their first pay raise in years
- Repealed Common Core
- Decreased the cost of a 4 year bachelor’s degree by nearly 40% through an articulation agreement that guarantees certain community college credits will transfer into the UNC system.
- Created the virtual charter school pilot program (first in state history) to allow more student/parent access to choice in public school education
- Launched exponential growth of public charter schools thereby giving parents more choice options in public education
- Currently wiring every classroom with high speed internet. North Carolina has a plan to wire every classroom with high speed broadband, enabling every child to use one-to-one electronic devices.