State Legislators agree on 1 billion in cuts by Ken Mahoney

STATE LEGISLATORS AGREE ON $1 BILLION IN CUTS

New York Senators and Assembly representatives convened in emergency session yesterday to hash out a plan to begin controlling the state’s growing budget deficit. Governor David Paterson last month announced he would call lawmakers back to Albany during a public address used to warn residents of the imminent budget crisis. At that time he projected a three-year deficit of $26.2 billion. New York’s debt at the end of this fiscal year is expected to exceed $52 billion.