Revised forecast gives North Carolina a revenue boost

North Carolina’s Office of State Budget and Management and the General Assembly’s Fiscal Research Division released an updated revenue forecast Tuesday that showed the state is expected to collect $60.4 billion in revenue over the next two years, reflecting a $6.5 billion increase over previous estimates.

The new estimate comes as the General Assembly draws closer to the deadline for budget negotiations. Lawmakers must create a state spending plan for the next two fiscal years during this legislative session. Each fiscal year starts July 1 and ends June 30 the following calendar year.