Thursday, July 23, 2009

State Budget Almost Final

Legislative leaders have reached an agreement to raise taxes by $982 million, a deal which could clear the way for approval of a $19 billion budget as early as next week. Some of the finer details of the compromise with regard to spending have yet to be ironed out but will be taken care of promptly, probably within the next day or so. This latest proposal fully favors neither the House nor the Senate plan but instead takes parts from both.

News outlets have reported the plan raises sin taxes and sales taxes, with the latter by three-fourths of a cent or one cent depending on how negotiations proceed. The second key piece of the compromise bill is an income tax proposal, where all taxpayers pay an extra two percent charge on their income tax liability.

Throughout the budget negotiations, the National MS Society, NC Chapters have partnered with TogetherNC, a collection of non-profit organizations, service providers, and professional associations who have come together to promote wise choices for shared prosperity for all North Carolinians.
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