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budget

Bloomberg, City Council Agree on NYC Budget

Mayor Bloomberg and the City Council have agreed on a $63 billion budget that will cut jobs but will not raise taxes. Several city services, including schools and adult-literacy programs, will face trimmings (through attrition rather than layoffs, officials said). After months of relatively tension-free negotiations, Council members said they were pleased with the concessions won from Bloomberg, as the jobs of about 400 firefighters were spared and the Administration for Children’s Services avoided cuts. The Council will meet next week to formally approve the budget, which would go into effect July 1.

New York City Budget Deal Avoids Tax Increases [NYT]

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