State Senate Gives Initial OK To Moneysaving Plan

The North Carolina Senate has given tentative approval to a Republican bill to target several hundred million dollars from spending cuts and reserve funds to help close next year's budget gap.

The measure was approved Thursday in a 30-18 party-line vote. Lawmakers rejected an attempt to exempt $75 million in three economic development initiatives from the list of funds to be tapped.

The money would be carried over to help close next year's projected $3.7 billion shortfall.

Democratic Gov. Beverly Perdue has said the bill would put North Carolina at a disadvantage in recruiting new companies and jobs.

A final Senate vote is expected Monday before it goes to the House.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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