• Research Report

    Debt is Debt: Taxpayers on hook for TIFs despite rhetoric

    posted November 18, 2007 by Joseph Coletti
    Tax increment financing (TIF) hides the diversion of funds from government services that is inherent in borrowing. It still puts taxpayers at risk for repayment and is more expensive than general obligation bonds or certificates of participation (COPs).
  • Research Report

    Let Public Vote on Debt: “Promise Now, Pay Later” Policy Has Hiked Taxes

    posted June 13, 2004 by John Hood
    State legislators are currently considering proposals to issue hundreds of millions of dollars in additional debt without seeking voter approval. The billions of dollars worth of bonds and other debt already approved since 1996 have more than quadrupled the state’s debt service and represent as much as a third of the fiscal impact of the tax hikes passed by the General Assembly since 2001. It’s no wonder politicians are wary of asking voters for more. But that’s why they should.
  • Press Release

    Report Examines State Debt Trends

    posted June 13, 2004
    RALEIGH — State lawmakers in Raleigh are currently debating bills that would authorize at least $760 million in new state debts — for land acquisition and for proposed University of…
  • Press Release

    Quick Reaction to State Bond Downgrade

    posted August 18, 2002
    RALEIGH — Today’s decision by Moody’s Investors Service to downgrade North Carolina’s bond rating revealed the pointlessness of last year’s massive $700 million state tax increase, according to two senior…
  • Research Report

    Inquiry #1: Bond, Strange Bond

    posted September 30, 2001 by Dr. Roy Cordato
    Summary: The University of North Carolina Board of Governors has proposed a capital spending plan calling for nearly $5 billion over the next decade to modernize and expand the system. To pay for it, UNC wants the authority to raise funds by the issuance of two kinds of bonds that would not be subject to voter approval. While there is undeniable need to renovate academic buildings, taking care of the worst needs over the next four years would cost about $1.1 billion and could be handled through the existing budget process if repair and renovation were made the top university priority. The need for a large-scale construction program is dubious and does not require the use of non-voter-approved bonds.
  • Research Report

    Changing Course IV: An Alternative Budget for North Carolina

    posted May 6, 2001 by John Hood, Dr. Roy Cordato, Don Carrington
    North Carolina faces significant fiscal and economic challenges over the next two years. But it need not resort to higher taxes, a state-run lottery, higher debt, or gimmickry to balance its budget. Nor does North Carolina need to skimp on crucial needs such as education and highways. By setting firm priorities within state government, eliminating unnecessary or duplicative programs, and charging users of some services a reasonable price, state leaders can generate sufficient savings to invest in the future needs of the state.

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