Bringing The World Home To You

© 2021 WUNC North Carolina Public Radio
120 Friday Center Dr
Chapel Hill, NC 27517
919.445.9150 | 800.962.9862
91.5 Chapel Hill 88.9 Manteo 90.9 Rocky Mount 91.1 Welcome 91.9 Fayetteville 90.5 Buxton
Play Live Radio
Next Up:
Available On Air Stations

The Week Ahead: State Budget Talks

State Senator Phil Berger
Dave DeWitt
Senate President Pro Tem Phil Berger

The new fiscal year begins July 1, and lawmakers could get a two-year budget plan in place by then if all goes as scheduled.

The Senate is expected to reveal its plan early this week and vote on the plan by Friday. Then the House would put out its plan, and negotiations on a final budget would commence.

Senate President Pro Tem Phil Berger has said top legislative priorities would be raising teacher pay and cutting corporate and personal income taxes.

A revenue forecast from earlier this year suggests lawmakers will have some fiscal flexibility. The General Assembly's fiscal research division in January announced higher than expected tax revenues putting the state's general fund ahead of predictions.

Estimates now show the state to generate nearly $22.7 billion in tax revenue, a 2.5 percent increase over the budgeted amount.

“The anticipated revenue surplus is predominately the result of stronger-than-expected wage growth increasing both Personal Income tax and Sales tax collections,” according to the report.

Revenue forecast from the General Assembly Fiscal Research Division.
Credit Fiscal Research Division / Jason deBruyn
Jason deBruyn
Revenue forecast from the General Assembly Fiscal Research Division.

Related Stories
More Stories