NCGA: Budget Wrap Up Now in Sight

This week the House and Senate Democrats hammered out a finance package that would bring in close to $990 million in revenue. This agreement ends the battle over how to raise revenue in order to offset some of the most devastating cuts in Health and Human Services and Education.

The revenue plan will call for a 1-cent increase in the sales tax, a 2 percent surcharge on personal and corporate income tax liability, a tax on items downloaded over the Internet, a 10-cent per pack increase on cigarettes, an increase in the beer excise tax of 5 cents per six pack, a 4-cent per bottle tax in wine, and a 4 percent increase on tax on liquor. The sales tax increase does not have a sunset clause however, the income tax surcharge would expire in two years.

We are expecting to see finance meetings on Thursday or Friday. Yesterday, Representative Holliman stated to Laura Leslie (WUNC) that the budget conference report would be presented on Monday with votes occurring on Tuesday and Wednesday. If this happens as planned there will be no need for any additional continuing resolutions.

We expect to see House and Senate committee meetings begin to close down starting Monday.
After a very difficult session it looks like we are at an end.