N. Carolina tax collections soaring above expectations again
North Carolina government tax collections have soared above expectations during the first seven months of the fiscal year. The state budget office said Friday that state revenues are already almost $1.4 billion ahead of the total anticipated by state economists through Jan. 31. The budget office says the revenue surge is happening in every major tax category and now estimates overcollections will reach $2.4 billion by the end of June. This year's state budget spends almost $26 billion. The surplus will mean the Republican-controlled legislature and Democratic Gov. Roy Cooper will have more with which to compete on as it relates to priorities for the excess money.