Travis Fain, WRAL — The North Carolina Senate advanced a state budget Thursday built on a major tax cut and federal stimulus money. The state’s personal income tax rate would fall from 5.25 percent to 3.99 percent over the next five years under the plan, and North Carolina’s 2.5 percent corporate rate would phase out entirely over the same period. Altogether, this would save taxpayers – and cost state coffers – $13.9 billion.

https://www.wral.com/senate-moves-forward-on-new-state-budget-14-billion-in-tax-cuts/19741943/