Cuomo Reaches Deal With Top New York Legislators to Close $10 Billion Gap


Michael Quint
Bloomberg
March 28, 2011

New York Governor Andrew Cuomo and top lawmakers agreed on a budget that eliminates next year’s $10 billion deficit by sticking close to the governor’s proposals for spending cuts without new taxes, they said.

The agreement for the fiscal year that begins April 1 would add $250 million of spending to Cuomo’s proposed $132.5 billion plan. Even with the increase, total outlays would decline 2 percent, the first such drop since at least 1995. Lawmakers, who Cuomo said faced a choice between accepting his plan or shutting down government, may be on a path to achieve New York’s first early budget since 1983.

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Cuomo, a 53-year-old Democrat, made the announcement yesterday in Albany, the state capital, after meeting with Assembly Speaker Sheldon Silver , a Democrat from Manhattan, and Senate President Dean Skelos, a Republican from Long Island.

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