New York Gov. David Paterson held fast to his spending cuts and revenue proposals as the Legislature Monday evening passed a $4.61 billion emergency budget that will allow the state to continue paying its bills through April 25.
Fiscal 2011 began April 1 without an approved budget as lawmakers continue to disagree on how best to close an estimated $9.2 billion deficit. The emergency spending plan gives the state some additional time to map out a budget for the year. This is the Legislature’s third emergency spending packet since April 1.