- Associated Press - Thursday, October 20, 2016

RALEIGH, N.C. (AP) - North Carolina revenues are ahead of what was anticipated so far this fiscal year to carry out the current state government budget.

Economists with Gov. Pat McCrory’s budget office and at the General Assembly say collections of taxes, fees and other revenues are $158 million ahead of projections through the first three months of the year, or Sept. 30. That equates to revenues that are 3 percent higher.

McCrory’s office attributed the uptick Thursday to wage growth and employment gains, which means more money is being received in tax withholdings from employee paychecks.

The first quarter is usually among the least volatile in each year’s budget cycle, with more risks around the April tax filing season.

This budget approved by legislators last summer anticipates spending $22.3 billion this year.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide