NC Senate expected to take final tax overhaul vote - WSLS 10 NBC in Roanoke/Lynchburg Va

NC Senate expected to take final tax overhaul vote

Posted: Updated:
RALEIGH, N.C. -

The North Carolina Senate is set to pass tax overhaul legislation that gradually repeals corporate taxes and lowers individual income rates.

The Senate is scheduled to vote Tuesday on a plan that tentatively passed last week mostly along party lines. The plan cuts taxes by billions but doesn't include a major rewrite of the sales tax code, which led the author of a more comprehensive plan to resign his post as Senate finance co-chairman in protest.

The plan has been attacked from the right as not far-reaching enough and from the left as a major drain on state resources.

Senate lawmakers will likely have to meet with their House counterparts to reach a compromise on their separate tax plans.

Powered by WorldNow

WSLS 10, P.O. Box 10
Roanoke, VA 24022-0010

Telephone: 540.981.9110
Fax: 540.343.3157
Email: news@wsls.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.