ALBANY (PIX11/AP) — A budget deal has been reached in Albany that will provide $300 million for an expansion of Pre-K programs in New York City schools.
The agreement does not increase taxes.
Mayor de Blasio had sought a tax on the city’s highest wage-earners as a way to pay for the expansion.
PIX11’s Marvin Scott first reported that the deal was in the works in an exclusive report on March 18.
The $140 billion budget agreement also offers some tax relief for businesses, homeowners and renters.
Details of the agreement are contained in legislation filed by staff members overnight Friday. It covers the budget for the fiscal year starting Tuesday.
Lawmakers are expected to return Sunday to discuss the bills and vote Monday.
The 332-page revenue bill lists property and renter’s tax credits through so-called circuit breakers, tax credits for families and revisions in bank, corporate, manufacturers and estate taxes.