Articles in regional publications that pertain to a wide range of North Carolina-related topics.
for We the People of North Carolina Vol. 12 Issue 8, January 1955
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An era has come to an end; since 1933 revenue has produced enough money to cover annual North Carolina General Fund appropriations but that has changed as of June 1955. Wile spending is at an all-time high, the 1955 North Carolina General Assembly must look to either cut spending or increase taxes while also dealing with issues of state highways, redistricting, government reorganization, and segregation in public schools.
For the first time since 1933 North Carolina's General Fund revenue will not be enough to cover spending, particularly for support and personnel salaries. With climbing spending, the General Assembly has attempted to cut spending and prevent salary increases, the difference between income and outgoing spending is now over $20 million annually.
Investments over $112 million, new jobs over 17,000 and a payroll of over $40 million were brought to North Carolina in 1954 thanks to industrial development. One hundred and thirty one new industries were created and numerous expansions of existing industries occurred during 1954, including electric utilities, textiles, food products, and lumber.
The prison system is not a self-sustaining department of North Carolina's state government. It has previously been part of the highway department, but it is being transferred to the North Carolina General Assembly General Fund, given the costs of the system.
At the end of the third quarter of 1954, North Carolina paid over $200,000 of franchise taxes to cities and towns where these taxes were collected. This type of state aid to municipalities is new, and checks to the cities and towns ranged from one dollar to over $27,000.
With the exception of South Carolina, Florida, and Louisiana, North Carolina leads the southeast in the amount of per capita taxes paid by the state's residents. However, North Carolina ranks 44th in the per capita income earned by residents of the state.