The North Carolina Senate (yesterday) tentatively approved $800 million in savings that will help close a projected $3.7 billion budget gap and help the private-sector create jobs.
Senators approved the Balanced Budget Act of 2011 (SB 13), which would give the governor the authority to cut spending for the current fiscal year and calls for immediate cost-savings to help tackle next year’s budget.
The governor’s office agreed to cut $400 million to help fill the gap between current spending and revenue. Senate Republicans added an extra $400 million in savings to the bill Wednesday that will help eliminate the deficit while minimizing negative impacts on school teachers and state workers.
h/t to the editor of the NC Senate Republicans website