on-time budget

WAMC Photo by Dave Lucas

New York has its third straight on-time budget after decades of missed deadlines.

The Assembly passed the final bills of the $135 billion spending plan just before midnight Thursday.

The budget approved by the Senate Wednesday is due Sunday, the start of the new fiscal year.

Major elements of the budget negotiated by Gov. Andrew Cuomo and legislative leaders includes $350 tax rebate checks for most middle class families and a new minimum wage that will rise to $9 over three years.

NY leaders meet, continue talks on state budget

Mar 18, 2013

New York Governor Andrew Cuomo and legislative leaders hope to announce an agreement on the third straight on-time budget.

But in Albany budget negotiations, all deals hinge on the final one. After closed-door meetings Sunday, all sides claim they are 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.