The State Capitol, Albany NY.
ALBANY – Today is the final day for lawmakers in Albany to consider and approve a state budget before the April 1 deadline.
Negotiations between Gov. Andrew Cuomo and the leaders of both the Assembly and Senate will spill into today as lawmakers seek to find agreement on a minimum wage hike, Medicaid spending and taxes.
Gov. Cuomo Wednesday announced a potential deal, currently under review by lawmakers, that would include $1 billion in middle-class tax relief and raise the wage from $9 to $15 in New York City in three years.
The wage would also increase elsewhere in the state, though more gradually, and after three years the state could halt the increases in the event of an economic downturn.
Cuomo has made the $15 wage his top priority this year, though he’s had to contend with Senate Republicans who say such a sharp increase would harm businesses, particularly upstate.
In a possible concession, Cuomo said he has agreed to $1 billion in income tax relief for the middle class, spread over five years.
Legislative leaders will now take Cuomo’s “framework” of a deal to rank-and-file lawmakers to gauge support before a formal vote. Officials hope to pass a budget before the start of a new fiscal year Friday.
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