New York Amsterdam News: City Council, mayor reach $68.5 billion budget deal

By: Gerren Keith Gaynor

Mayor Michael Bloomberg and City Council members came to a $68.5 billion budget deal for fiscal year 2013. The budget, which goes into effect July 1, includes no tax increases, revenue from an improving economy and additional funding to offset previously proposed cuts, according to a press release from the mayor’s office. The budget deal came just five days before the June 30 deadline, which marks the end of fiscal year 2012.

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