New York City spending cuts restored in new budget deal

06/24/2013 | Wall Street Journal, The

The New York City Council and Mayor Michael Bloomberg came to an agreement on a $70 billion budget that restores hundreds of millions of dollars of previously proposed spending cuts for public housing, libraries and after-school programs but includes no tax increases. The Bloomberg administration said the next mayor will be confronted with a $2 billion deficit for the fiscal year that begins in July 2014.

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