Local News

Floyd Relief May Have NC Tax Consequences

Posted Updated

RALEIGH — The price tag for cleaning up after Hurricane Floyd has gotten bigger. State leaders say the amount of money Tar Heel taxpayers must contribute to Floyd relief may have doubled in the past two weeks to more than $1 billion.

Senate Leader Marc Basnight says the amount of money the state may have to provide means that some ideas, such as a temporary tax increase, may be reconsidered.

Lawmakers in both parties have said they're opposed to that option.

There has been talk of a return to Raleigh by legislators to consider a flood-relief package that would raise up to $600 million by raiding the state's emergency fund and trimming spending.

That was before Congress finished its session without giving the entire $1.7 billion sought by Gov. Jim Hunt.


Copyright 2024 by Capitol Broadcasting Company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.