Raleigh, N.C. — The state Senate plans to unveil its budget plan for the coming fiscal year late Sunday, Appropriations Committee Chairman Sen. Pete Brunstetter said Thursday.
Lawmakers will not include legislation rewriting the state's tax system in the budget bill, said Brunstetter, R-Forsyth. However, he said, the Senate's spending plan will anticipate a change in tax code, meaning budget-writers will have less money with which to work.
"We will not expend the amount of money we don't expect to collect," Brunstetter said.
Aside from that, he would not disclose the bottom-line spending numbers or other details, saying that members of the Senate have not yet been briefed on details of the bill.
The House and Senate are in the process of rolling out competing tax packages. Both sets of reform bills are expected to lower corporate and personal income taxes while applying sales tax to more goods and services.
Senate lawmakers are expected to review the contents of the budget plan during committee meetings on Monday afternoon. Brunstetter said he expected the full Senate to debate and pass the bill on Wednesday and Thursday.