A union vote on Friday scuttled a labor-concessions package that the governor was counting on to balance a two-year state budget, setting the stage for cuts that could include thousands of layoffs.
Forcefully rejecting Republican budget-cutting plans, President Barack Obama on Wednesday proposed lowering the nation's future deficits by $4 trillion over a dozen years and vowed he would not allow benefit cuts for the poor and the elderly to pay for tax breaks for the rich.
New York State finalized its budget early Thursday morning, and now state agencies, cities, and non-profits are starting to sort out the billions of dollars in cuts.
Yonkers officials are saying the state budget deal reached in Albany is going to spell big trouble for education in the Westchester city.
Shared sacrifice was the motto of Governor Dannel Malloy’s first budget proposal Wednesday.
New York City Mayor Michael Bloomberg refused to blame Governor Andrew Cuomo for the tough cuts he made in his 2011-2012 executive budget proposal, but that doesn’t mean he’s happy with it.
The $10 billion deficit projection has led New York City officials and various advocacy groups to worry about what’s on the chopping block in next year’s budget.
Mayor Bloomberg said New York City’s budget already includes the elimination of 6,000 teaching positions. If Governor Cuomo proposes cuts to education aid by $1 billion, Bloomberg said it could mean as many as 21,000 teacher layoffs.
With a snowstorm bearing down on the metropolitan region again, local governments are feeling the financial pressures of the frequent winter blasts.
A state watchdog voted Wednesday to take over the finances of a suburban New York county — one of the nation's wealthiest — amid a dispute over the severity of fiscal problems that have plagued it for at least a decade.
Today a relatively optimistic Mayor Michael Bloomberg addressed a full house at the St. George Theater on Staten Island.
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