NC State Budget Awesomeness

…most legislators were unlikely to receive their own review copies of the nearly 300-page [state budget] until hours before the first of two days of votes on Tuesday.

 

…Lawmakers proposed $990 million in additional taxes in the current year and $1.3 billion next year.

 

…Public schools will see cuts of $1.8 billion from last year and universities will be cut $1.9 billion…

 

…extra money would have to come from shaving the margin for error…

 

… raise the sales tax rate by a penny so that most consumers would pay 7.75 percent through mid-2011.

 

A new income tax surcharge would apply to profitable corporations and individuals whose taxable income topped $60,000.

 

Cigarette and alcohol excise taxes would go up…

 

Emery Dalesio

Associated Press, August 03, 2009