Cuomo, legislative leaders agree to budget deal

Gov. Andrew Cuomo and top Albany lawmakers have agreed on a tentative state budget, and the highlight is tax relief. The tax cuts are for

The closed-door agreement announced Wednesday puts Albany on track to pass the third straight on-time budget.

The closed-door agreement announced Wednesday puts Albany on track to pass the third straight on-time budget. (3/21/13)

ALBANY - Gov. Andrew Cuomo and top Albany lawmakers have agreed on a tentative state budget, and the highlight is tax relief.

The tax cuts are for small businesses and middle class families who can expect a $350 tax rebate check next year. There's also a stabilization plan for the state's soaring pension expenses.

According to officials, the budget deal would increase the minimum wage to $9 an hour over three years.

In addition, there is a roughly $300 million economic development package which is expected to help create jobs.

A final vote on the $135 billion spending plan is expected Sunday. 

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