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Cuomo Strikes $300 Million Pre-K Deal Without Tax Increase

Governor Andrew Cuomo and legislative leaders struck a deal to allocate $300 million for universal pre-kindergarten in New York City, giving Mayor Bill de Blasio funds for his signature program without the tax increase on the rich he sought.

The agreement is part of a wider accord on the state’s $137.9 billion budget and sets up the fourth consecutive on-time spending plan ahead of the fiscal year that starts April 1. The deal also puts on the November ballot a $2 billion borrowing referendum to fund school technology and pre-K classrooms, a measure to give property owners rebates on their taxes if their local governments control spending, and another that drives the corporate tax rate to its lowest since 1968.