Annual tax revenue growth in NC is much lower since state leaders implemented tax cuts starting in 2014
Average annual growth in General Fund tax revenue before the Great Recession and during the current period of tax cuts
With several rounds of tax cuts started phasing in since 2013, the state revenues have grown at an average annual rate of about 4 and a half. This is significantly lower than the average rate of over eight and a half percent from the 1970's through the Great Recession.
