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Cooper calls for $1.5 billion Florence fund

October 10th, 2018

Gov. Roy Cooper called for $1.5 billion in state funding to recover from Hurricane Florence and said the state’s preliminary damage estimate is nearly $13 billion.

That’s essentially the damage from hurricanes Matthew and Floyd combined, Cooper said.

The governor said he’ll ask for a $750 million “down payment” from the state legislature when it comes into session next week to discuss the recovery.

Part of the money would come from the state’s rainy day fund, part from overages elsewhere in the budget, Cooper said. The governor said the funding wouldn’t require a tax increase.

This is a breaking news story and will be updated.

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