Cuomo Nears Deal on $136.5 Billion N.Y. Budget Extending Top Tax
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Governor Andrew Cuomo and New York legislative leaders may reach a deal as soon as today on a $136.5 billion budget that would extend a higher tax on top earners, raise the minimum wage and cut $700 million in taxes.
The agreement would close a $1.35 billion deficit without new taxes in fiscal 2014, which begins April 1. Approval by the legislature, which could happen as early as this weekend, would mean Wall Street’s home state would have its third consecutive on-time budget for the first time since 1984, when Cuomo’s father, Mario, was governor.