Gov. Andrew M. Cuomo revealed his proposed 2013-2014 executive budget and management plan that he says continues the balanced, fiscally responsible budgeting of the past two years.
The budget eliminates the $1.3 billion budget gap without adding new taxes or fees. It also caps increased government spending at 2 percent for the third consecutive year.
The governor’s budget also adds $889 million in education aid, which translates to a 4.4 percent increase.
Cuomo’s budget addresses New York’s workforce by raising the state’s minimum wage from $7.25 per hour to $8.75 per hour. It also reforms the Workers’ Compensation system in an effort to save employers, local governments, and school districts more than $900 million.
“By making difficult decisions over the past two years we have brought stability, predictability, and common sense to the state’s budget process,” Cuomo said. “As a result, we are able to make critical investments to build a world-class education system, support job creating projects in all corners of the state, provide assistance to local governments, and rebuild communities that were hit hard by Superstorm Sandy.”
Even with those investments, the budget proposal also promises nearly $974 million in savings from government redesign and cost control efforts.