NC budget bill deal reached

RALEIGH, N.C. -- Democratic leaders at the Legislature wrapped up work on a $21.3 billion budget plan Thursday for the new fiscal year that delayed two tax breaks in order to please Gov. Mike Easley, who was worried about losing revenue in a slowing economy. Save for tinkering with some technical language, House Speaker Joe Hackney and Senate leader Marc Basnight said a deal had been reached after two weeks of negotiations. The first of two required votes in each chamber could occur as early as Monday night. "We made some tough decisions that had to be made," Basnight, D-Dare, told reporters. Easley complained last week that the budget needed an additional $45 million in savings for the new year because tax collections were off by an estimated $70 million in May and June. So the chambers agreed to put off until 2010 the... [read full story]