Governor Cuomo released his $152.3 billion state budget plan Tuesday night, proposing to spend a billion dollars more on education and cut income taxes for the middle class.
He would pay for it partly by extending the so-called “millionaire’s tax,” which is due to expire at the end of the year. New York would be looking to close a $3.5 billion budget gap without it. With it, the state generates about $4 billion a year more in tax revenues.
Senate Majority Leader John Flanagan is opposing the extension, saying the state should cut spending and taxes instead.
The first of the so-called “School Aid Runs” under the governor’s budget proposal indicates that Rochester City Schools could expect an $11 million increase, not counting any changes made by the legislature.
Greece would get a $1.3 million increase.