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Jun 30, 2008 9:54 am US/Eastern

City Council Budget Cuts Housing, Boosts Education

NEW YORK (CBS) ― The New York City Council passed its new budget Sunday, worth nearly $60 billion.

The council had to make some tough choices as it decided which facilities and departments to stream-line. The budget cuts didn't sit well with many voters.

Demonstrators carried signs outside City Hall, protesting the cuts involving the city housing authority. Several senior centers could close under this budget proposal, but homeowners could get a break.

"We felt it was very important not to raise property taxes, and we have held the line and property taxes will not be raised in this year's budget. It's a mixed bag budget, but I think although it will have impact, the best we could do in these tough economic times," said City Council Speaker Christine Quinn.

Education is expected to get a financial boost this year. The Department of Education is expected to see an increase of $129 million.

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