North Carolina
Despite revenue downgrade, North Carolina anticipates nearly $1B more in cash
RALEIGH, N.C. (AP) – North Carolina officials downgraded a projected state revenue surplus through mid-2025 by $430 million on Friday, citing lower than anticipated April 15 individual income tax payments due to recent business tax changes. Still, the state expects nearly $1 billion more to enter its coffers.
Last month, economists working for Democratic Gov. Roy Cooper’s administration and at the Republican-controlled legislature predicted formally that collections would exceed revenue budgeted for the year ending June 30 by $413 million. And that jump, they determined, would lead to another $1 billion more received in the fiscal year starting July 1 than projected in the current two-year state budget.
Now the consensus forecast indicates that the overage for this fiscal year will now be $188 million, with another $799 million expected next year, the Office of State Budget and Management and the legislature’s Fiscal Research Division said.
The economists had warned that a forecast revision might be necessary if April collections, which are usually the most volatile, deviated significantly from estimates. That’s what happened, according to the agencies. Personal income tax refunds were higher than anticipated and final payments were lower than expected, as a 2022 tax change that let certain corporations and partnerships pay state taxes, rather than owners or shareholders, for favored tax treatment led to some duplicate payments.
“Fortunately, this adjustment is a one-time event,” a state budget office memo said, adding that “despite this downward revision, the economic outlook for North Carolina remains unchanged, with no effect on the state’s long-term growth.”
It’s unclear if the lower overcollections will make legislators more cautious about additional spending or a potential income tax rebate as the General Assembly now meets to adjust the budget’s second year. The additional monies are a small percentage compared with the nearly $31 billion that the state currently plans to spend next year.
The April forecast served as the basis for Cooper to present his budget adjustment proposal last month. It also gave Republicans confidence that there were funds to advance a measure that would set aside another $463 million to help children seeking scholarships to attend private schools and to eliminate the waitlist.
That bill needs only one House vote to send the measure to Cooper, who is strongly opposed to the larger Opportunity Scholarship program. The legislature agreed last year to remove family income limits on receiving the scholarships, resulting in a massive increase in applications. Cooper has called for a moratorium on Opportunity Scholarships while expanding public school funding.
Republican budget-writers also are considering requests from the business community and advocates for children to address the upcoming loss of federal money for grants designed to help child care centers remain open during the COVID-19 pandemic.
Senate leader Phil Berger told reporters Thursday that GOP leaders were considering whether it makes sense to provide widespread tax rebates this year. Giving even $500 to every household, for example, could cost billions.
“We’re looking at it, but I don’t think there’d be an interest in doing it unless the amount we could send out would be an amount that would make a difference,” he said.
Copyright 2024 The Associated Press. All rights reserved.
North Carolina
Drought relief turns hazardous: Overwhelming rain triggers flash flooding in western NC
ASHEVILLE, N.C. (WLOS) — Overwhelming rain has been a common theme since last Wednesday, May 20.
At first, the rain was a welcome sight as the region continues to experience extreme drought.
‘HIT SO HARD’: STORM DAMAGE IN HENDERSON COUNTY STIRS MEMORIES OF HELENE, OFFICIAL SAYS
However, last night, it quickly became too much of a good thing for some as flash flooding resulted in parts of western North Carolina.
In the last seven days, the Asheville Regional Airport has received nearly 7 inches of rain. To put that into perspective, that’s more than the last 114 days combined.
MAY 26, 2026 – Daily rainfall amounts from the past two weeks at the Asheville Regional Airport. (WLOS)
That’s right, more rain fell in the last seven days than did all of February, March, April and the first 19 days of May.
The flash flood risk will remain elevated through tonight but will lower somewhat tomorrow as less activity is expected.
HEAVY RAIN WASHES OUT ROADS OVERNIGHT IN BUNCOMBE, HENDERSON COUNTIES
This is the beginning of a quieter pattern that will take us into the early part of June.
Most days are expected to be drier and cooler than normal through the first week of June.
The North Carolina Tar Heels have had themselves quite a tense few weeks as they await the decision of Matt Able.
Able — a transfer from NC State — is currently committed to the Tar Heels, while also keeping his name in the 2026 NBA Draft class. Able averaged 8.8 points per game as a freshman at NC State last season, and took part in the NBA Draft Combine, looking to improve his draft stock.
Able has certainly made UNC a bit nervous this month. He was one of the more impressive players at the Combine earlier this month. Over the course of two 5-on-5 scrimmages, Able averaged roughly 16 points per game and was 7-16 from three-point range in that same span.
A willing three-point shooter with a 6-foot-4 frame, Able mostly projects as a second-round pick currently. However, he does still have room to sneak his way into the first round, especially given how well he performed at the Combine.
Able Amongst Portal Pick-Ups
For UNC’s sake, they sure do hope that Able makes the decision to suit up for them next season. He is one of Michael Malone’s top transfer portal acquisitions in his first offseason as head coach. Imagining a world without Able is a reality that the Tar Heels are hoping they can avoid next season.
Many other star talents who did the same as Able have made the decision to come back to college. Most notably, UNC’s most-bitter rival, the Duke Blue Devils, were able to get John Blackwell to withdraw from the draft and return to school for next season.
Without Able, the Tar Heels would be at a significant disadvantage in trying to find his replacement. At this point, the transfer portal cycle is nearly completed, and finding a replacement with similar value to Able will be a nearly impossible task for Malone and his staff.
UNC’s Losses
They’ve already lost several talents from last season, including losing Caleb Wilson and Henri Veesaar to the draft, and losing role players such as Derek Dixon and Luka Bogavac to the transfer portal, so not only will the Tar Heels be undergoing a massive makeover, but it will be even more prominent if Able doesn’t stay true to his commitment.
The clock is ticking for Able to make a decision. Until then, the Tar Heels — and their fans — will hold their breath and hope that he ends up choosing to come to Chapel Hill after testing the draft waters.
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The North Carolina Tar Heels have yet another new look to their roster heading into the 2026 season. Another offseason with 50 new additions, including roughly 30 true freshmen, makes the Tar Heels’ roster incredibly young, with a mix of veterans and transfers with inexperience on both sides of the ball.
As head coach Bill Belichick heads into his second season leading the program, the pressure is on to add more wins, and they’ll need some key players and transfers to step up and become major contributors early and throughout the season. Let’s look at some potential X-factors for North Carolina football heading into the summer break.
Offensive X-Factor — Trech Kekahuna, Wide Receiver
A dynamic pass-catcher from Wisconsin, Kekahuna has a chance to become a fascinating asset for offensive coordinator Bobby Petrino. Kekahuna is incredibly versatile, with quickness, speed, and vision as a ball carrier, allowing him to create yards in space through traffic. His presence on the field will be one to watch this season, making him an important offensive factor.
Defensive X-Factor — Jaylen Harvey, Edge Rusher
We’ve talked a lot about Harvey in recent weeks as a potential key contributor to the Tar Heels’ pass rush this season. The explosiveness and speed off the edge flashed at times during his time at Penn State, including against Clemson in the Pinstripe Bowl this past season. If Harvey puts it together at Chapel Hill, he becomes a serious X-factor for Steve Belichick’s defense.
Offensive X-Factor — Jordan Washington, Tight End
Jelani Thurman is the tight end I’m higher on in this room the most, but Washington’s size and athleticism make him an intriguing No. 2 option behind Thurman, who should be projected as the presumptive starter heading into the summer.
Washington has solid hands and movement skills to be a productive contributor, and if he puts it together, he quickly becomes an underrated aspect of the Tar Heels’ offense under Petrino.
Defensive X-Factor — Coleman Bryson, Safety
The safety spot for North Carolina has a mixture of veteran presence and talent with Bryson and Greg Smith. The biggest question in this room is whether or not these two players reach their potential as backend playmakers in the Tar Heels’ secondary.
Bryson was the MVP of the Pinstripe Bowl with Minnesota a few years ago as a freshman. The talent and athleticism are there for him to become an impact contributor. If he puts it together, the veteran safety quickly becomes an X-factor in North Carolina’s secondary.
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