New York leaders, Gov. Cuomo reach deal on budget

March 30, 2014 • Business

Senate Republican leader Dean Skelos, R-Rockville Centre, center, walks to a legislative leaders budget meeting at the Capitol on Friday, March 28, 2014, in Albany, N.Y. (AP Photo/Mike Groll)

ALBANY, N.Y. (AP) — Gov. Andrew Cuomo and legislative leaders have reached an agreement on a nearly $140 billion budget that would provide some tax relief for businesses, homeowners and renters and add $340 million for pre-kindergarten mainly in New York City.

Details for the budget covering the fiscal year beginning Tuesday were contained in legislation filed by staff overnight Friday. Lawmakers are expected to return Sunday to discuss the deal and vote Monday.

According to the governor’s office, the budget keeps spending growth below 2 percent and increases school aid overall by 5 percent. An estimated $1.5 billion in homeowner tax relief is tied to their local governments staying within a 2 percent tax cap the first year and then advancing consolidation or cost-saving plans the second year.

Cuomo called that “the single most transformative Login to read more

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