NC Senate prepares for first budget vote

RALEIGH — A budget to operate North Carolina state government for the next two years is ready for debate on the Senate floor.

Senate Democrats prepared to hold the first of two required votes on the spending plan Wednesday afternoon.

The budget spends $20 billion in state funds for the fiscal year starting July 1. It narrows a $3.4 billion gap between projected revenues and expenses by cutting costs, spending stimulus money and generating $500 million in tax increases. Republicans are frustrated because Democrats don’t plan to finalize what they intend to tax until later.

The budget should pass by the end of the week and head to the House, which will create its own version. The two chambers then will work on a compromise to present to Gov. Beverly Perdue.

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