Mayor Bloomberg, City Council reach deal on budget

Homeowners and business owners in the Bronx and the rest of the city are getting some good news.Mayor Bloomberg (R-NYC) and the City Council have agreed on how to spend the city's $59 billion budget. Property taxes will be decreased by 7 percent, instead of the 5 percent initially proposed. The budget will also focus on education, with $21 million going to CUNY colleges to keep full-time professors and hire additional ones. In addition, money will be allocated to create more full-day, pre-kindergarten spots.Under the budget agreement, funds will also be provided to buy bulletproof vests for auxiliary officers and for a new police academy.Click here to find out which lawmakers were able to keep their budget promises