Legislative leaders met several times over the past two days with Gov. Andrew Cuomo his second-floor offices and had indicated they were working toward a late Monday agreement on a $136 billion spending plan.
But by Monday evening, the lawmakers signaled a deal would have to wait until Tuesday at the earliest.
Negotiations among staff at the Capitol were expected to continue late into Monday night, while top lawmakers in the Legislature are set to next meet with Cuomo Tuesday morning.
“We’re going through different issues and looking to close it down,” Senate Republican Leader Dean Skelos, R-Nassau County, said Monday.
The pieces of a potential budget agreement started to come into focus late in the day, though lawmakers cautioned that no final deal had been struck. Skelos said a deal would eventually include about $700 million in tax breaks for businesses and families, though he said the specifics were still being hashed out.
The sides were nearing a deal to increase the minimum wage over three years—to $8 an hour in 2014, $8.75 in 2015 and $9 in 2016—and extend higher income-tax rates on millionaires past 2014, when they are set to expire.
“Realistically, if we can get a minimum wage that ends at $9 in two years, I think we have done a tremendous service,” said Assembly Speaker Sheldon Silver, a Manhattan Democrat who had been pushing for tying the minimum wage to the rate of inflation.