If all goes as planned, New York state”™s budget will be approved on time.
The state Assembly is voting on the $135 billion budget today and could finish by tonight or Friday.
The budget includes a $350 tax rebate for families, increases school aid by $1 billion and incrementally increases the minimum wage to $9 an hour by the end of 2015. The current minimum wage is $7.25 an hour.
The wage hike comes with a tax credit for employers that could cover $1.35 of the increase.
The budget increases spending by less than 2 percent. It includes $28 million to develop a gun permit database as part of New York”™s tough new gun laws.
The state Senate approved the budget early Wednesday morning . The budget must be signed into law by Gov. Andrew Cuomo.
New York”™s 2013-2014 fiscal year begins April 1.
