Will new N.C. fiscal reform commission prompt tax overhaul?
By GARY D. ROBERTSON
Associated Press Writer
RALEIGH, N.C. — Legislators have heard it all before: North Carolina needs to overhaul its financial structure or risk ruin.
If they don't, economists say, the General Assembly will have to keep raiding trust funds and raising taxes to balance the state budget. Local governments argue they'll have to keep driving up property taxes to pay for Medicaid, transportation and school construction needs.
"It is time to solve these problems," said Sen. David Hoyle, D-Gaston during a meeting of a commission studying the state's fiscal systems. "We need to consider the controversial and not just the comfortable."
Associated Press Writer
RALEIGH, N.C. — Legislators have heard it all before: North Carolina needs to overhaul its financial structure or risk ruin.
If they don't, economists say, the General Assembly will have to keep raiding trust funds and raising taxes to balance the state budget. Local governments argue they'll have to keep driving up property taxes to pay for Medicaid, transportation and school construction needs.
"It is time to solve these problems," said Sen. David Hoyle, D-Gaston during a meeting of a commission studying the state's fiscal systems. "We need to consider the controversial and not just the comfortable."
posted by Andy W. Rogers | 5:39 PM
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