2013-14 Budget Highlights

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Here’s a look at the highlights in Gov. Andrew Cuomo’s $136 billion budget proposal Tuesday:

  • Closes a $1.3 billion budget gap without new taxes or fees.
  • Increases spending by 1.9 percent.
  • Includes $6.1 billion in expected federal aid for Superstorm Sandy. Overall, the budget expects $30 billion in federal aid for storm relief.
  • Boosts education aid by $889 million, or by 4.4 percent, including $75 million in competitive grants.
  • Creates tax-free zones for job growth and continues $220 million for regional development councils.
  • Reforms workers’ compensation system to save employers, governments and schools $900 million.
  • Starts program to help local governments fund growing pension costs.
  • Raises the minimum wage from $7.25 an hour to $8.75 an hour.
  • Includes $974 million in savings through government consolidation, including the closure of two prisons – in Manhattan and Beacon Correctional Facility in Dutchess County.
  • Puts in revenue raisers to bring in $403 million, mainly extending current taxes, such as limiting charitable contribution deductions on people making more than $10 million.
  • Provides $85 million to Thruway Authority, including cost of the Thruway’s State Police patrol, to avoid a toll increase on trucks.
  • Requires industrial development agencies run at the county level to get approval from the state’s regional development councils for state sales-tax exemptions and limits sectors where IDAs can offer tax breaks.
  • Allows businesses under 2,500 square feet that sells lottery tickets to sell Quick Draw, the Keno-like game. Would bring in $24 million for state education.
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