NC Advances Record $34B Budget With Tax Cuts and Education Funding

North Carolina lawmakers advanced a record $34 billion state budget in the first round of votes, including raises for state workers and teachers, one-time pension boosts, and phased personal income tax cuts that could drop to as low as 2.49% by 2034. The plan also raises taxes on data centers and sports betting companies, funds Hurricane Helene relief and reserves, expands Medicaid oversight while trimming some health-department positions, and boosts transportation spending, with final passage and Gov. Stein’s signature expected later this week.