Cuomo, State Lawmakers Work To Hammer Out Budget Deal
ALBANY, N.Y. (CBSNewYork/AP) — New York Gov. Andrew Cuomo and state legislative leaders were hoping Sunday to announce agreement on the third straight on-time budget.
But no final deal was expected Sunday.
In Albany budget negotiations, all deals hinge on the final one. After closed-door meetings Sunday, all sides claimed they were a good distance apart.
Some difficult sticking points are whether to raise the minimum wage to as much as $9, whether to adopt business tax cuts, and whether to extend a “temporary” income tax increase for the second time.
Sen. Jeffrey Klein (D-The Bronx), who leads the Independent Democratic Conference which shares leadership of the Senate, said Sunday that there was no agreement on how much the minimum wage would rise.
The Senate Republicans, who share control of the chamber, have opposed a minimum wage hike, but have been open to discussing it in recent weeks. Democrats, including Cuomo, strongly support the measure.
Negotiations to extend the temporary income tax aimed at millionaires continued, even though the $1.9 billion tax doesn’t expire until 2014. That’s an election year for Cuomo and the Legislature.
Cuomo said he is simply trying to budget some revenues over a two-year period, to make budgeting more predictable and more efficient. Cuomo had previously called for extending a business tax about to expire, but the millionaire tax proposal was revealed last week by The Associated Press.
Cuomo and legislative leaders hope to pass the third straight on-time budget, a feat not accomplished since the early 1980s.
The budget would increase state spending just under 2 percent, to about $135 billion, although the total jumps to over $140 billion when one-time federal aid for recovery from Superstorm Sandy is included.
The leaders are shooting for a March 21 budget adoption, which would be the earliest since at least the 1970s.
The 2013-14 state budget is due by April 1.
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