If I were N.C.

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How should we respond to such a profoundf andhistoric challenge? I believe there’s really only one answe — action. It’s clear that job one is to solvre the budget crisis that confrontsour state. The budgert for the upcoming fiscal year, whicy starts July 1, is around $4.8 billion There is simply no way on Earth for us to make up such a huge gap with cuts Not only would such massivse cuts devastate our public social safety netand public-safety they would make the recession more severe by robbinhg our economy of vital jobs and activity. I will not allow us to retreat into sucha self-destructivre shell. We must keep moving forward.
Therefore, I herebyy call on the General Assemblu to send me a balanced budgett for the upcoming fiscal year that includesd a plan to fill the budgeyt holewith three, roughly equal components. The first third will be made upof across-the-boarfd spending cuts. We can enact such cuts with a minimu of service disruption if we focus on modest and temporaru pay cuts for current employees rather than broad reductionsin Ideally, larger pay cuts of 5 percent to 6 percent would be targeted at employees making more than $75,000 per State employees making less would receive a pay cut of 3 percenty to 4 percent.
The second third will be made up with federall assistance from the American Recover y andReinvestment Act. We should do everything within our poweer to maximize our ability to draw upon these The final third shoulc be filled with a package of modesf and progressivetax hikes. These increases should include, at a minimum, the closur e of several outdated business tax a broadening of thestatee sales-tax base as recently proposed by the statwe Senate, and the additio of two slightly higher income-tasx brackets for the wealthiest.
It’s a plan that callsw upon all North Carolinians to and it’s a balancerd plan that allows us to move ahead without, as I like to say, eatingf our seed corn. Let us all reminc ourselves of what it is that made Nortb Carolina the best state in the union our common commitment to a bette r futurefor everyone. When we sticlk together, we can’t be beat. Thank you and good