Legislature: N.C. budget bill deal reached

Posted: 29 minutes ago Updated: 20 minutes ago RALEIGH, N.C. — North Carolina legislators have reached an agreement on a $21 billion state budget, which will be voted on next week. A top House negotiator and a spokeswoman for Senate leader Marc Basnight said Thursday that everything has been settled, save for some technical language. Democratic Rep. Paul Luebke of Durham County said the two sides agreed to delay for a year eliminating the state gift tax and expanding a tax credit for the working poor. They did so to satisfy concerns of Gov. Mike Easley, who is worried about lower-than-expected tax collections during May and June. The new fiscal year started Tuesday, but state government continues to operate since the spending plan only adjusts the second year of a two-year budget passed last... [read full story]