Today, Governor Pat McCrory signed House Bill 4, the first step towards paying off North Carolina's $2.5 billion debt to the federal government and reforming North Carolina's unemployment insurance system.
"I will not outsource these tough decisions," said Governor McCrory. "This bipartisan solution will protect our small businesses from continued over-taxation, ensure our citizens' unemployment safety net is secure and financially sound for future generations, and help provide an economic climate that allows job creators to start hiring again."
Sponsored by Representative Julia Howard, House Bill 4 received bipartisan support in the General Assembly to pay down the $2.5 billion debt North Carolina owes the federal government.
"Faced with North Carolina's growing $2.5 billion debt, it was necessary and imperative that we pass this powerful and common-sense reform. This bill, which brings our State's benefits in line with our neighbors and does not burden small business to pay a debt they never accrued, is an important step in reconnecting our unemployed workers with jobs and restoring fiscal integrity to our U.I. system. We commend the Governor for his leadership to make North Carolina's business environment more competitive in attracting and retaining jobs," said Rep. Howard.
Rep. Julia Howard, Rep. Edgar Starnes, Rep. Mitchell Setzer, Rep. Harry Warren, Sen. Bob Rucho, Sen. Andrew Brock and Sen. Bill Rabon were in attendance for the bill signing.