NC Budget Update

House and Senate Democrats appear on the edge of reaching a deal to raise more taxes one week after North Carolina Gov. Beverly Perdue rejected a similar plan.

Finance negotiators plan to meet Thursday morning to try to hammer our details on a new plan that would raise sales tax by a penny but limit an income tax surcharge to people with the highest earnings.

Perdue rejected her fellow Democrats' deal last week because the surcharge would have been paid by all income taxpayers.

The taxes would be inserted into a final two-year budget bill Perdue will be asked to sign into law.

The Legislature also must extend a stopgap spending measure that expires Friday night because the budget won't be approved before then.

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