Senate budget uses NC revenue boon on more tax cuts, capital
RALEIGH, N.C. (AP) — North Carolina Senate Republicans have unveiled a two-year state budget proposal that sticks to earlier spending limits even with recent news of a massive revenue windfall.
The Senate will vote on the spending plan this week.
The measure revealed Monday sticks to spending caps agreed to with House counterparts.
Those were set before economists announced the state would take in $6.5 billion more than expected.
The bill puts much of that extra money in a savings reserve and an infrastructure construction fund, and makes deeper tax cuts than Republicans originally pitched.
State employee and teacher raises fall short of what Democratic Gov. Roy Cooper proposes.