Cuomo Signs State Budget Into Law
Albany, NY - For the second year in a row, New York State is seeing a timely budget signed into law. Governor Andrew Cuomo signed the budget into law this afternoon after it passed in both state house. The spending plan is a 1.9-percent increase from last year's budget and it also closes a 2-billion dollar deficit.
In addition to the many new proposals in the budget that aims to change the way the state operates, lawmakers increased school aid by 4-percent and the pension system has been reformed to lower pension costs at the local and state levels. The new pension system, Tier 6, will only affect new government employees. The budget was due on April 1st.