McCrory: NC expects $400 million surplus

Associated Press

RALEIGH, NC (AP) — Gov. Pat McCrory says North Carolina will have a revenue surplus of $400 million this fiscal year.

The governor already has ideas on how to spend it.

McCrory announced the surge in tax collections Wednesday at an event held by the North Carolina Association of County Commissioners in Raleigh.

The announced surplus come three months after government economists projected a $271 million shortfall for the year. State budget director Lee Roberts says that forecast was intentionally conservative.

McCrory says he wants lawmakers to put the additional money in reserve, and fix a 2013 tax change that appears to have harmed older adults with high medical expenses.

McCrory says the good numbers are the result of a growing economy.

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Categories: Associated Press, NC, News

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