Governor George Pataki (R-NY) proposed a $110.7 billion state budget plan Tuesday that would reduce property, income and business taxes by $3.2 billion.

Pataki?s $110.7 billion budget proposal would increase spending by 4.1 percent while closing what the governor called a modest $700 million budget gap. The budget also calls for several tax incentives to lure and enhance business in New York.The budget is due to be in place by April 1.