NY Daily News: Bloomberg, NYC council agree on $70B budget a week before deadline

New York Mayor Michael Bloomberg and the City Council sealed the deal on their last budget Sunday, staving off some of the worst cuts to the city housing authority under the federal sequester.

The $70 billion budget, which does not include tax increases, kicks in $58 million for New York City Housing Authority to avoid most of 500 threatened layoffs —  and saves 20 fire companies that Bloomberg’s proposed budget threatened to eliminate.

The budget adds $250 million for storm-resistance projects outlined in Bloomberg’s new climate change plan. It also keeps city pools open and restores $144 million for thousands of child care and after-school seats that were on the chopping block.

“It is never easy. The city has limited resources and seemingly unlimited demands on its services, and yet we have to come up with something that is fiscally responsible and balanced,” Bloomberg said.
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