New York World: Mayor holds firm on budget cuts to child care, fire companies

By Alexander Hotz

Mayor Michael Bloomberg presented his 2013 executive budget Thursday, which still includes the controversial closure of 20 fire companies and the elimination of approximately 47,000 child care and after school slots.

The administration did, however, set aside additional funding for education. In his February preliminary budget, Bloomberg had asked for the elimination of 2,500 teaching positions.

The Mayor said this year’s $68.7 billion budget, which he unveiled at City Hall, was especially challenging because of lower Wall Street profits. Tax revenues are down $352 million this year largely because of the financial sector, Bloomberg said. Although revenues from the technology, film and television and tourism sectors were up, those funds are not enough to offset Wall Street’s losses.

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