By Mark Scott
Albany, NY – Governor David Paterson is proposing a $5 billion plan to reduce New York's deepening deficits with across-the-board cuts and measures to boost revenue over two years.
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Paterson wants a state spending cap, a cut up to 4.5 percent in this year's remaining school aid and a pension plan for new state workers that's less costly. He says the state would save more than $9 billion over five years under his plan.
At an Albany news briefing Thursday, Paterson admitted these cuts are painful.
"During a time of uncommon difficulty, we need to work together for the common good and enact a consensus plan that helps us avoid the severe consequences faced by other states that failed to swiftly address their budget problems," Paterson said. "This will mean hard and painful choices, but that is exactly the type of leadership New Yorkers deserve from their public officials."
But Paterson says he is not proposing any tax increases. The proposal now goes to the Legislature, which would have to approve any cuts in education, health care, public safety and other spending.