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New York state budget deal includes minimum wage hike, tax cuts
Source: Reuters
New York state budget deal includes minimum wage hike, tax cuts
NEW YORK | Thu Mar 21, 2013 12:07pm EDT
(Reuters) - Governor Andrew Cuomo and New York state legislative leaders have agreed upon a $135 billion budget for fiscal year 2013-2014 that raises the minimum wage, gives tax breaks to middle-class families and businesses, and extends a tax on high earners, Cuomo said late Wednesday.
The deal was announced in Albany, the state capital, after days of closed-door wrangling as lawmakers sought to reconcile three separate proposals.
The agreement paves the way for a vote by the legislature after a three-day period set aside for public consideration, setting this year's budget on course to be the third in a row to be passed on time. The budget could be the earliest since 1976.
Cuomo, a Democrat, said the deal was still subject to minor changes, but said the vote could take place on Saturday or Sunday - well ahead of the deadline on April 1, when the new fiscal year begins.
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NEW YORK | Thu Mar 21, 2013 12:07pm EDT
(Reuters) - Governor Andrew Cuomo and New York state legislative leaders have agreed upon a $135 billion budget for fiscal year 2013-2014 that raises the minimum wage, gives tax breaks to middle-class families and businesses, and extends a tax on high earners, Cuomo said late Wednesday.
The deal was announced in Albany, the state capital, after days of closed-door wrangling as lawmakers sought to reconcile three separate proposals.
The agreement paves the way for a vote by the legislature after a three-day period set aside for public consideration, setting this year's budget on course to be the third in a row to be passed on time. The budget could be the earliest since 1976.
Cuomo, a Democrat, said the deal was still subject to minor changes, but said the vote could take place on Saturday or Sunday - well ahead of the deadline on April 1, when the new fiscal year begins.
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Read more: http://www.reuters.com/article/2013/03/21/us-usa-newyork-budget-idUSBRE92K0TC20130321
