RALEIGH, N.C. (AP) - North Carolina continues to collect less tax money than lawmakers expected when they crafted this year's budget.
But agencies and services don't yet face cuts because of money set aside by Gov. Beverly Perdue.
The Legislature's top staff economist said this week the state has taken in $110 million less than expected over the first five months of the fiscal year, through Nov. 30.
That's 1.5 percent below expectations, or the same proportion as in October.
Perdue has withheld up to 5 percent of funds in some agencies to handle shortfalls.
Economist Barry Boardman wrote the state's coffers are still feeling the prolonged recession, as unemployment stays high and people spend less.
If the economy worsens, budget cuts are a possibility.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
Web Search powered by YAHOO!
|
NewsNews
NC tax collections still weak along with economy
RALEIGH, N.C. (AP) - North Carolina continues to collect less tax money than lawmakers expected when they crafted this year's budget.
By:
|
WNCT
Published: December 16, 2009
Published: December 16, 2009
Email
Facebook
Google
Twitter
Favorites
MoreAdvertisement
View More:
Associated Press,
Barry Boardman,
Beverly Perdue,
Business_Finance,
Economist,
Governor,
North Carolina,
Raleigh,
Staff Economist,
Usd
Not what you're looking for? Try our quick search:
Reader Comments
*Facebook Account Required to Comment. If you are not already logged into Facebook, please click the comment button to do so.Deal of the Day
Advertisement
Interactive Radar
Advertisement
Featured Blogger
Reel Reviews
Updated: 02/03/2012
Nine On Your Side's Phillip Sayblack shares his take on the latest movie and dvd releases.
More Posts by Reel Reviews
Hot Topics on WNCT.com
Advertisement
Advertisement