N.C. budget surplus estimated at $552M

N.C. budget surplus estimated at $552M

North Carolina expects to collect $552.5 million more in revenue than what is needed to carry out the state’s $22.3 billion budget for the fiscal year ending June 30. The surplus is largely attributed to higher-than-expected wage growth, which has boosted personal income and sales taxes. The anticipated surplus could help the Republican-controlled legislature and Democratic Gov. Roy Cooper get more of what they want in the next budget.

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