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Assembly budget proposal includes $2 billion in borrowing

By Howard B. Owens

Assembly Democrats want to cut state aid to schools by only $800 million, not the $1.4 billion proposed by Senate Democrats and Gov. David Paterson.

The Assembly proposal also includes $2 billion in borrowing.

According to the New York Times, Assembly leader Sheldon Silver says,

“With this plan,” Mr. Silver said, “we close the deficit, we make responsible cuts, we hold the line on spending, we preserve vital programs and services, we reject a number of taxes and fees, and dramatically reform the budget process.”

The Assembly budget does not include Paterson's tax on soda, nor does it propose closing all 81 state parks, which Paterson asked for.

The Assembly budget cuts $4.3 billion in spending. Paterson's proposal cut $4.9 billion, but without borrowing.

Assemblyman Steve Hawley's office released this statement about the budget:

Earlier tonight, the Assembly Majority introduced, and passed, their 2010-2011 State Budget resolution. While it did eliminate the proposed tax on sugared beverages and the closure of state parks throughout the state, it still looks to solve the projected budget shortfalls by increasing state borrowing by $2 billion. With the state already on the brink of insolvency, we cannot afford anymore debt or borrowing. I voted against this resolution and hope that as the budget deadline approaches my colleagues in the Majority will not plan on voting for this in the final budget.

For more on the Assembly budget, here's the Albany Times-Union story.

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