From Raleigh’s News and Observer…..

After weeks of negotiations, N.C. House leaders agreed to a budget spending level that’s close to the 2.7 percent increase sought by the Senate and Gov. Pat McCrory.

According to McCrory’s office, legislative leaders agreed to set the total budget at $21.735 billion after a “breakfast meeting at the Executive Mansion.”

The figure is $19.6 million more than the $21.65 billion target that Senate leader Phil Berger suggested several weeks ago, noting that the spending increase would represent population growth and inflation.

By agreeing to $21.735 billion, the House is agreeing to cut about $480 million from its original budget proposal. Its leaders had said the additional spending was needed to catch up on critical government needs after years of cuts in the recession.

“This agreement is the result of ongoing dialogue during the last several weeks,” McCrory said. “We remain committed to working with the House and Senate to find common sense solutions that create jobs, strengthen education and fund critical infrastructure in North Carolina.”