Paterson Proposes Austere Budget to Close Deficit

The Paterson administration, working to close the largest deficit in
state history, unveiled an austerity budget on Tuesday that would
include 137 new or increased taxes and fees, loosened restrictions on gambling and $9 billion worth of spending cuts. Education would be particularly hard-hit, with an actual cut of $700
million in state aid in the next fiscal year, not just a reduction in
projected spending growth.

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