Do We Have a Finance Package?

Bruce Mildwurf, WRAL, got the early scoop this afternoon on a tentative agreement on the State Finance package…..

WRAL — The three-week stalemate between the House and Senate over a new state budget appeared to be over late Tuesday.

House Majority Leader Hugh Holliman said the finance teams from the two chambers had tentatively agreed to a plan to raise $982 million in new revenue.

The plan calls for a temporary one-cent increase on the state sales tax rate, raising the cigarette tax by 10 cents a pack, a 5-cent tax increase on a six-pack of beer and higher taxes on wine and liquor based on their alcohol content. It also includes a 2 percent income tax surcharge for the next two years on people and businesses that still owe taxes at the end of the year because they have underpaid on their withholding or quarterly taxes.



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