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.

  • Trending StoriesTrending StoriesMore>>

  • 2 charged with first-degree murder in beating death of UNC professor, cancer researcher

    2 charged with first-degree murder in beating death of UNC professor, cancer researcher

    Friday, July 25 2014 9:00 AM EDT2014-07-25 13:00:14 GMT
    A UNC research professor was robbed and beaten to death Wednesday afternoon on University Drive in Chapel Hill, police said.
    A UNC research professor was robbed and beaten to death Wednesday afternoon on University Drive in Chapel Hill, police said.
  • Man charged with killing UNC professor had just left Wake Jail

    Man charged with killing UNC professor had just left Wake Jail

    Friday, July 25 2014 5:28 PM EDT2014-07-25 21:28:10 GMT
    Derick Davis II, 23 (Left) and Troy Arrington, Jr., 27, (Right)Derick Davis II, 23 (Left) and Troy Arrington, Jr., 27, (Right)
    An Orange County dispatcher sounded shocked Wednesday afternoon when a 911 caller described finding University of North Carolina professor Feng Liu beaten and dying on a street near the UNC campus.
    An Orange County dispatcher sounded shocked Wednesday afternoon when a 911 caller described finding University of North Carolina professor Feng Liu beaten and dying on a street near the UNC campus.
  • DOT fixes sign for new 485 flyover that spelled Pineville wrong

    DOT fixes sign for new 485 flyover that spelled Pineville wrong

    Friday, July 25 2014 1:40 PM EDT2014-07-25 17:40:30 GMT
    Thursday morning the Department of Transportation officially opened a ramp from Johnston Road to I-485. The flyover ramp opened around 5:15 a.m.
    Thursday morning the Department of Transportation officially opened a ramp from Johnston Road to I-485. The flyover ramp opened around 5:15 a.m.
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.