Gov. Paterson proposes $5B in spending cuts
ALBANY - Gov. David Paterson is proposing a $5 billion plan to reduce New York’s deepening deficits with across-the-board cuts over two years.
Paterson wants a state spending cap, a cut up to 4.5 percent in
this year’s remaining school aid and a pension plan for new state
workers that’s less costly than benefits for current and past
The Democrat says Thursday the state would save $9.3 billion
over five years under his plan.
He isn’t calling for any tax increases.
The proposal now goes to the Legislature, which would have to
approve any cuts to education, health care, public safety and other
politically sensitive areas.
Paterson and lawmakers agreed on a $131.8 billion budget in
April that included more than $4 billion in tax increases and
relied on temporary federal stimulus funds.