NC Senate expected to take final tax overhaul vote
The North Carolina Senate is set to pass tax overhaul legislation that gradually repeals corporate taxes and lowers individual income rates.
The Senate is scheduled to vote Tuesday on a plan that tentatively passed last week mostly along party lines. The plan cuts taxes by billions but doesn't include a major rewrite of the sales tax code, which led the author of a more comprehensive plan to resign his post as Senate finance co-chairman in protest.
The plan has been attacked from the right as not far-reaching enough and from the left as a major drain on state resources.
Senate lawmakers will likely have to meet with their House counterparts to reach a compromise on their separate tax plans.