RALEIGH (AP) — Gov. Pat McCrory and Republican legislative leaders have completed a tax deal after several weeks of negotiations.
McCrory, House Speaker Thom Tillis and Senate leader Phil Berger made the announcement today in the House chamber of the old Capitol building.
The package still will have to be voted on by the full House and Senate before it can go to McCrory’s desk for his signature. Republicans have comfortable margins in each chamber, so passage is likely.
The bill will reduce both individual and corporate income tax rates.
Chances for a deal looked uncertain two weeks ago when the Senate passed another version of a tax proposal, but negotiations picked up last week.