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education

Cuomo Vetoes Teacher Pension Borrowing Bill

by Associated Press
Flickr/ Azi Paybarah

 ALBANY, N.Y. (AP)  -- Gov. Andrew Cuomo has vetoed legislation that would have allowed school districts to issue bonds to cover teacher pensions and effectively carve out an exception for that cost from property tax caps that take effect next year.

The bonds plus interest would have been paid off over 15 years.

Cuomo says Wednesday that families across New York have been forced to cut back and live within their means, and school districts must do the same.

Cuomo Budget Could Mean NYC Layoffs, Officials Fear

by Sara Kugel
Pete Dzintars, flickr

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.

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