RALEIGH, N.C. (AP) — North Carolina officials have downgraded anticipated state revenue collections compared to their recent forecast. Wednesday’s adjustments agreed upon by economists working in Democratic Gov. Josh Stein’s budget office and at the General Assembly are in large part the result of higher economic uncertainty and the risks of a recession. The changes from the February forecast keep front and center competing tax-cutting plans passed by the Republican-controlled House and Senate. The updated forecast still envisions lower year-over-year revenues because of expected income tax rate reductions. Democratic Gov. Josh Stein wants to stop those rate cuts.… Continue Reading
