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No Deals Reached In NYs Emergency Economic Session

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Aug 19, 2008 1:14 pm US/Eastern

No Deals Reached In NYs Emergency Economic Session

Gov. Paterson Says Talks With Legislature Will Continue For Days

NEW YORK (AP) ― Governor David Paterson says he has no deals with the Legislature for today's emergency economic session, but talks will continue for days.

Paterson says there is no agreement on any of the $600 million dollar in cuts he asked the Legislature to make to stave off projected deficits for this fiscal year because of declining revenues.

The Senate and Assembly were due in Albany around noon. But with no deals it may be a brief session without substantial action.

Even so, Paterson credited legislators for proposing cuts in spending for the first time.

Senate Majority Leader Dean Skelos says he expects $400 million dollars to $500 million dollars to be cut from the current 2008-09 budget, and perhaps more. The Long Island Republican also acknowledged talks with Paterson to commit to future spending reductions.

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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