NC governor says tax talks are tough process - WNCN: News, Weather

NC governor says tax talks are tough process

Posted: Updated:
RALEIGH, N.C. -

Gov. Pat McCrory said Wednesday that he and North Carolina legislative leaders are going through a "tough process" working on a tax overhaul, but he isn't going to spend a long time trying to facilitate a deal.
    
McCrory said he's feeling there will be a positive outcome to negotiations between House and Senate Republicans.
    
The two chambers have passed competing tax plans and are trying to work out an agreement. Lawmakers have said they want the tax changes settled first before a final two-year state government budget is finalized so they'll know how much money they have to spend through mid-2015.
    
McCrory said he's looked at many tax scenarios but hasn't made his own offer to legislators. He has told them there are certain tax changes he wouldn't support. The Republican governor also has said he's concerned about whether there will be enough money to carry out some of his priorities.
    
"We're going through a tough process that I hope that we can reach a consensus on, but as the governor I've got to make sure the numbers add up and that's my major issue," McCrory said in an interview following a bill signing ceremony in the old Capitol building. .
    
McCrory isn't necessarily in a position of strength. The legislature doesn't have a hard deadline to pass a plan, and Republicans have large enough majorities in both chambers to override a McCrory veto, although such actions aren't likely. Republican lawmakers, however, want to end the legislative session in July. A bill sitting on McCrory's desk would keep government operating through July 31 while a budget is being worked out.
    
"I hope we can reach (a tax) consensus within the next week among the leadership. I don't want this to drag out much longer," the governor said. "I either want to come to a consensus on a plan, or move on to many of the other important items we all have to deal with."
    
The competing House and Senate plans differ on the extent of reductions to corporate and individual income tax rates and changes to business franchise taxes. The chambers also don't agree on which sales tax exemptions should end and which services should be subject to the tax.
    
McCrory has said he wants income tax rates lower to become more competitive with surrounding states and that any plan should be "revenue neutral," meaning it would not immediately increase the state's share of revenue.

  • PoliticsMore>>

  • Lawmakers in last-minute moves over NC budget

    Lawmakers in last-minute moves over NC budget

    Wednesday, July 30 2014 11:27 PM EDT2014-07-31 03:27:50 GMT
    File PhotoFile Photo
    Legislative budget-writers are toiling to finalize an annual spending plan for North Carolina government four days after announcing a deal and a day after leading lawmakers described its main points.Senate budget-writer Sen. Harry Brown says a finalized document won't be done until late Wednesday.
    Legislative budget-writers are toiling to finalize an annual spending plan for North Carolina government four days after announcing a deal and a day after leading lawmakers described its main points.Senate budget-writer Sen. Harry Brown says a finalized document won't be done until late Wednesday.
  • NC weighs giving upfront money for promised jobs

    NC weighs giving upfront money for promised jobs

    North Carolina lawmakers are considering breaking with a generation of state job-hunting efforts and giving corporations upfront money to move.
    North Carolina lawmakers are considering breaking with a generation of state job-hunting efforts and giving corporations upfront money to move.
  • NC Senate signs off on farm bill

    NC Senate signs off on farm bill

    Wednesday, July 30 2014 6:54 PM EDT2014-07-30 22:54:19 GMT
    File PhotoFile Photo
    The Senate voted Wednesday to agree to a bill that would shield DENR from disclosing complaints and investigations on farms.
    The Senate voted Wednesday to agree to a bill that would shield DENR from disclosing complaints and investigations on farms.
Powered by WorldNow

1205 Front St., Raleigh
N.C., 27609

Telephone: 919.836.1717
Fax: 919.836.1687
Email: newstips@wncn.com

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