Cuomo, legislative leaders agree on budget

Gov. Andrew Cuomo is sealing a deal with the Legislature on a tentative state budget that would be historic for its spending cuts as well as its timeliness.

Cuomo says the budget will set New York on a new course after decades of overspending and overtaxing that have driven residents out of state for better opportunities.

The Legislature still must pass the voluminous budget bills this week. In past years, tentative deals have fallen apart after lawmakers, lobbyists and reporters pick apart the deals struck in closed-door negotiations.

But the 2011-2012 budget that Cuomo, Senate leader Dean Skelos and Assembly Speaker Sheldon Silver stood behind Sunday would be nearly identical to the proposal Cuomo presented Feb. 1.

The budget also addresses a $10 billion deficit. It is due Friday.