The North Carolina House of Representatives last week approved a $22 billion state budget for fiscal year 2016, which is expected to face significant pushback from the Senate for its 6 percent increase in spending. Among other things, the House budget:
The Senate is expected to release its budget proposal in mid-June, which will likely contain lower spending levels that are more in line with the 2 – 3 percent increases sought by Governor Pat McCrory.
The Senate plan is also expected to scale back or eliminate many of the tax credits and deductions reinstated in the House plan, including the Historical Preservation Tax Credit and Medical Expense deduction. However, raises for starting teachers and other state employees, along with increased funding for the court system, are expected to remain a priority for both chambers.
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