House and Senate Democrats are close to a deal on how to generate $1 billion in new taxes this year in North Carolina.
Leaders in both chambers said Tuesday a tentative agreement on
how to raise the revenues could come very soon.
Finding such a deal has been the key obstacle to passage of a permanent budget three weeks after the new fiscal year began.
House Speaker Joe Hackney said the chamber's Democrats were
meeting Tuesday afternoon to discuss the offer.
Senate tax negotiator David Hoyle said his side has offered sales and income tax increases as well as higher excise taxes on cigarettes and alcohol. Hoyle said the Senate withdrew its effort to overhaul the tax system and expand greatly the number of services subject to the sales tax.
Copyright 2014 by The Associated Press. All Rights Reserved.