Mar 18, 2008 4:24 pm US/Eastern
Paterson Proposes $800M Budget Cut
ALBANY, N.Y. (AP) ―
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David Paterson waves after delivering his first speech as New York's governor on March 17, 2008.
CBS
Citing troubles on Wall Street, Gov. David Paterson is taking the extroardinary step of calling for an $800 million cut in the proposed state budget.
Paterson wants to cut the almost 5 percent spending increase in former Gov. Eliot Spitzer's plan to less than 4 percent. He also proposed an across-the-board 2 percent reduction in operating spending for all state agencies.
And Senate Majority Leader Joseph Bruno, a Republican, says he would be open to a hiring freeze for state workers. The state has about 1,400 job vacancies right now.
Assembly Speaker Sheldon Silver is seeking a tax increase for New Yorkers who make $1 million or more.
Bruno rejects any tax increases.
Paterson and lawmakers are tackling the budget in meetings Tuesday.
(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
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