NEW YORK—Gov. Andrew Cuomo reached an agreement on the state’s 2012–2013 budget with Senate Majority Leader Dean Skelos and Assembly Speaker Sheldon Silver on Tuesday that centers on infrastructure investment.
The $132.6 billion budget maintains the 2 percent spending increase cap Cuomo implemented last year and does not include any new taxes. The Legislature is expected to pass it on Friday, after which it would go into effect when the new fiscal year begins on Sunday.
Cuomo earmarked funds for a New York Works Task Force that will focus on rebuilding infrastructure across the state, such as roads, bridges, and parks.
The 15-member force will oversee the mega projects currently underway, providing coordination for the Metropolitan Transit Authority (MTA), the Port Authority, and a total of 45 different agencies. These projects account for $16 billion in annual spending.
