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NY governor presents state budget with no tax hike, more money for public schools, hospitals
ALBANY, N.Y. (AP) ' New York Gov. Andrew Cuomo says his mostly flat budget proposal of about $132 billion is a tool for shaping a new future for the state.
His proposal would increase state spending by 2 percent, or about $89 million. But the overall plan, including federal funding tied to state spending, is a fraction of 1 percent lower than the current budget, and it would eliminate a $2 billion deficit.
Cuomo's plan calls for using $1.9 billion in revenue from a "millionaire tax" approved in December and making just over $1 billion in cuts. The proposal presented Tuesday would also merge some state agencies.
Cuomo also wants a less costly pension tier for new hires that would save state and local governments billions of dollars in employer payments over 30 years.