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After weeks of closed-door negotiations, N.C. Senate and House leaders announced Tuesday they have agreed to a top-line spending number of $25.7 billion in the first year and $26.7 in the second year, up 3.45% in the first year of the biennium and 3.65% in the second.
Carolina Journal first reported that the two sides were about $500 million apart in their proposed total spending and with these numbers, it appears the two chambers agreed to meet in the middle. A news release said that the two chambers have agreed to replenish the state’s “rainy day fund,” cut taxes, and put $4.2 billion in new capital funding in the State Capital and Infrastructure Fund. They have also agreed that the budget will not have a bond or Medicaid expansion, both of which are on Gov. Roy Cooper’s proposed budget wish list.
CHARLESTON — When the 85th Legislature convenes Wednesday for the 60-day regular session, it will look much different than a normal legislative session, beginning with Gov. Jim Justice’s State of