The NCGA has publicly acknowledged what they all privately knew: Deputy Assistant Guvnor Pat's budget is nice fodder for the media, but Pat is thoroughly irrelevant and the Tillisberger runs this state and will set the budget while ignoring DAG McDelusional.
The state Senate is diving into the details of Gov. Pat McCrory’s proposed $21 billion budget and will put out its own version in two or three weeks.
“I’m sure we’ll be seeing a little different budget,” said Sen. Harry Brown, a budget writer from Jacksonville.
The hilarious irony, though is this part of the article (the reporter opted for the trite yet convenient Q&A format):
Q: Why is there a shortfall?
A. A memo from the State Office of Budget and Management and the legislature’s Fiscal Research Division says the shortfall is related to personal income tax collections.
Q: Forecasts were for growth in personal income tax revenue, but collections are off 5.6 percent from last year. Why is that?
A. The memo gives three reasons.
1. Less money was withheld from employee paychecks than estimated. Withholding was expected to grow 3.9 percent from the previous year, Pope said. It’s grown about 3 percent instead.
2. A new tax law reduced personal income tax rates and broadened the tax base. A flat personal income tax rate of 5.8 percent replaced rates of 6 percent, 7 percent and 7.75 percent, where the percentage paid depended on income. But the rate reduction is being felt this year, while the effect of collecting taxes from more places won’t kick in until next year’s tax returns are filed.
3. The 2012 federal “fiscal cliff” had many high-income taxpayers “shifting” their income from 2013 to 2012 to avoid paying higher federal taxes.
That's right, Art Pope, budget director, had to stand up in public and say that NC isn't taking in enough money because (1) Art Pope, budget director, instituted a gimmick to put a few more $ in paychecks that he will get back from repealed deductions; (2) Art Pope, callous fatcat, got a big, fat tax cut hahahahaha; and (3) Boehner and the tea party in Washington kicked people in the teeth (but millionaires like Art Pope came out just fine).
Still, Pope Art I, DAG McCrony and the NC GOP, although soiling themselves as they begin to realize the depth of the hole they've dug, continue to assure us that EVERYTHING IS FINE! REALLY!!