Economy
The Republican-led state Senate rolled out a $25.7 billion state budget proposal Monday, with measures that cut corporate income taxes, a measly 1.5 percent annual pay raise for educators and a provision that would limit a governor’s power during states of emergency. The proposed budget fails to include the $5 billion in unreserved funds and…
Read More
Last week, Republican House and Senate leaders in the NC General Assembly announced their proposed total spending figure for the state budget, which consists of spending $25.7 billion in 2021-2022 and $26.7 billion in 2022-2023. Details of the budget have not been finalized, yet the state legislature has already contemplated cutting taxes for corporations and…
Read More
On Wednesday, North Carolina Governor Roy Cooper unveiled a list of proposals for North Carolina’s $5.7 billion share from the $1.9 trillion American Rescue Plan passed by federal lawmakers in March. Calling it a “once-in-a-generation opportunity” to make transformational changes, Gov. Cooper proposed widespread investments to expand high-speed internet access across the state, give checks…
Read More
Last week, prominent Republicans pushed forth the passage of House Bill 334, a bill that would change North Carolina’s tax code with respect to Paycheck Protection Program (PPP) loans. The catch? House Speaker Tim Moore and other lawmakers would benefit from the tax cut. Under the new changes, PPP loans would remain un-taxed and companies…
Read More
Yesterday marked Vice President Kamala Harris’ first trip to North Carolina since taking office to promote President Joe Biden’s $2 trillion jobs and infrastructure plan. The expansive infrastructure package, known as the American Jobs Plan, includes money for roads and bridges, affordable housing, as well as cleaner energy sources, elderly care and expanding broadband. From…
Read MorePresident Biden signed a sweeping $1.9 trillion coronavirus relief package into law on Thursday, delivering a massive amount of much-needed federal aid for working families, essential workers and individuals who have been impacted by the financial devastation the pandemic has caused. “This legislation is about giving the backbone of this nation — the essential workers,…
Read More
Last week, the Republican-led North Carolina General Assembly passed it’s COVID-19 relief package. The NC House Bill (HB) 196 appropriated the remaining $1.7 billion in federal money that was allocated to North Carolina in the Congressional relief package passed in December. In a process that lacked transparency in ensuring equitable allocation of public dollars, the…
Read More
Senate Democrats passed their version of the near $1.9 trillion American Rescue Plan Act on Saturday, but not before making some major changes from the version of the bill passed by the House last week. The bill includes $1,400 stimulus checks for many Americans, extended federal unemployment benefits, billions for K-12 schools, billions for state…
Read MoreBlack Wall Street was the hub of African-American businesses and financial services in Durham, North Carolina, during the late 1800s and early 1900s. Dr. Aaron McDuffie Moore, alongside John Merrick and C.C. Spaulding, is credited with establishing Durham’s hub for Black-owned businesses and the Black middle class. Located within a four-block district on Parrish Street,…
Read MoreIn an effort to celebrate Black History Month, Progress NC Action is highlighting prominent Black leaders from North Carolina, who have shaped our state through their contributions to arts, sciences, politics, etc. In the early 1900’s, Black-owned businesses in Durham, North Carolina can be traced back to the efforts of two African-American entrepreneurs:Charles Spaulding and…
Read More