ALBANY, N.Y. (CBSNewYork/AP) — Gov. Andrew Cuomo unveiled a budget proposal that he hopes will provide tax relief to both New York’s residents and businesses.
Cuomo proposed budgeting $137.2 billion for the fiscal year starting April 1, a spending increase of less than 2 percent accompanied by business, property and estate tax relief.
The budget he released projects increases of 4.6 percent for federally and state funded Medicaid, to $58.2 billion, and 3.8 percent in aid for schools, to $21.9 billion. It keeps many other spending lines flat, including $714.7 million in state aid to cities, towns and villages.
“This year is relatively simple and straightforward,” Cuomo said. However, he said it contains more policy and program proposals than usual.