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oh albany!

New York Legislators Finally Approve Budget, 125 Days Late

Lawmakers finalized one of the latest budgets in New York’s history Tuesday night, ending about four months of negotiations. The approved legislation will raise roughly $1 billion, primarily by increasing taxes on clothing and businesses, though not by adding a new tax that had been proposed for hedge fund employees. The state will also increase its revenue share from video gambling machines, and allow New York’s casinos to stay open longer. Huzzah! [NYT]

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Photo: Photo-illustration: Everett Bogue; Photos: Getty Images, iStockphoto