ATLANTA -- North Carolina's Senate Finance Committee yesterday moved to plug the state's estimated $1.2 billion budget gap in fiscal 1992 by approving a plan to increase taxes by $610 million and cut spending by $600 million.

The committee's action -- which is expected to receive final approval by the full Senate today -- followed endorsement of a similar plan by the full House last Friday that would raise taxes by $700 million and cut spending by $530 million. After Senate approval of the finance committee's proposal, the House and Senate will reconcle their versions.

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