Gov. Cuomo, lawmakers strike on-time budget deal

State lawmakers and Gov. Andrew Cuomo announced Tuesday that they have agreed on a $132.5 billion budget proposal that includes no new taxes and increases

ALABANY - State lawmakers and Gov. Andrew Cuomo announced Tuesday that they have agreed on a $132.5 billion budget proposal that includes no new taxes and increases spending by 2 percent.

Under the plan, $20 billion will be set aside for school aid, including grants based on academic improvement.

More than $1 billion will be allocated to speed up road and bridge repairs, while the Metropolitan Transportation Authority will receive hundreds of millions in state money to keep major projects, like the East Side Access project, on course.

The budget will also create a state gaming commission to oversee plans to bring casinos to New York.

Lawmakers are expected to vote on the plan tomorrow. The deadline for a budget to be approved is midnight Saturday.

VIDEO: Political insider Brad Gerstein on the NYS budget deal

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