Taxpayer Protection Amendment Barely Passes Senate

RALEIGH — A proposed constitutional amendment Senate Republicans have titled the Taxpayer Protection Act tentatively squeaked through that chamber Tuesday, with a final vote expected on Wednesday. The proposal would set a cap on the personal income tax rate at 5 percent (down from the current 10 percent), require lawmakers to build up a rainy day fund totaling 12.5 percent of the General Gund budget, and limit growth of year-to-year spending increases to the inflation rate plus growth in population.