Skip to main content

A huge victory for cooler heads and the moderate majority. A template for the rest of the United States and perhaps Congress. Details of the deal below. Most importantly, this has set a record for number of on-time budgets.

1. Fiscal Restraint.

The $137.9 billion budget keeps growth in all spending levels below 2 percent
This doesn't mean that spending priorities are ignored.

The NY Environmental Protection Fund received an increase of 9 million in funding

School aid goes up 5 percent.

2. Middle-class and pro-growth tax relief

Local governments are notorious for their lack of fiscal discipline, so an initiative has been set upto give middle class taxpayers property tax relief if they keep spending in line.

The accord includes a plan to give property owners a rebate equal to the increase in their property tax bill if their local governments agree to keep spending growth below the state’s 2 percent property tax cap, the legislation says.

In the second year, they’d get a rebate if the jurisdictions they live in present a three-year plan to share services and lower spending by 1 percent annually while remaining under the cap. During the course of three years the plan, which also includes a rebate for New York City renters who meet income requirements, will provide $1.5 billion to 2.8 million taxpayers, Cuomo said


On the pro-growth side

The budget also looks to cut state taxes and create jobs by establishing a 20 percent real estate property tax credit for manufacturers who own or lease property. Beginning in 2014, it will slash the tax rate on income for all manufacturers from the current 5.9 percent to zero.
A small cut in the tax rate to keep NY corporations's competitive as they have been suffering an exodus to low-tax jurisdictions.

3. Funding for Pre-K

The agreement on prekindergarten offered a conclusion to months of high-stakes maneuvering between Mr. Cuomo and Mr. de Blasio, who are both Democrats. The governor rejected the mayor’s efforts to pass a tax increase on high-earning city residents, but in the end, Mr. de Blasio emerged with most of the money he says he needs to expand preschool.

The mayor had sought about $340 million for the prekindergarten expansion, which would offer free full-day classes to 4-year-olds; the budget pact allocates that much money for the entire state, with most of it designated for the city

4. Respect the rights of public charter schools

Mr. de Blasio had resisted the idea that he should be required to accommodate charter schools, which are publicly financed but are typically managed by nonprofit groups. In February, he denied space to three of the schools affiliated with a high-performing network known as Success Academy Charter Schools, arguing that they would crowd out traditional school programs.

But advocates of charter schools organized a multimillion-dollar advertising campaign and flooded the capital with protesters.

With his popularity sagging in polls, Mr. de Blasio worked aggressively to ease tensions with charter school advocates. But his efforts came too late; Mr. Cuomo and Republicans in the State Senate were already working in private to provide a lifeline to charter schools, seizing on what they saw as the mayor’s political weakness.

Under the budget agreement, charter schools, previously barred from operating early education programs, would also be eligible for grants for prekindergarten, and they would receive more money per student.

More info here.


Do you support the NY Budget Deal

12%16 votes
87%111 votes

| 127 votes | Vote | Results

Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags


More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site