Gov. Spitzer's first state budget looks to cut property taxes and increase school aid

BROOKLYN - Governor Spitzer (D-NY) unveiled his first state budget plan Wednesday, pushing for property tax relief and an increase in school funding. The proposed $120.6 billion budget for the next fiscal year will increase school funding by $1.4 billion and provide $1.5 billion to cut property taxes for New York State residents. There are no tax increases in the budget. Spitzer says he will close tax "loopholes" and eliminate waste and fraud to accommodate the funding for his initiatives.The governor's plan looks to increase school aid by $1.4 billion, which would grow to an extra $7 billion by the 2010-2011 state fiscal year. His plan wants new guidelines to distribute school funds in hopes of ensuring needy schools see a larger share of resources. Spitzer says his plan also "provides overdue property tax relief to middle-class homeowners." His plan would seek to save middle-class families $6 billion over three years. Under his proposal, the state's debt would increase from $48.8 billion to $52.6 billion.

advertisement | advertise on News 12

Trending Video

Aziz Chirkeev, 20, was last seen April 3 1 Brighton Beach man missing for nearly two weeks
News 12 talks to viewers about how dating 2 Word on the Street: Dating apps and self-esteem
3 VIDEO: News conference from Monmouth County Prosecutor's Office
News 12 Long Island's Doug Geed takes a 4 Tasty Tuesday: Fresh spring ingredients
Video: Survivors reflect on Holocaust Remembrance Day 5 Video: Survivors reflect on Holocaust Remembrance Day

advertisement | advertise on News 12

Features

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE