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New York Governor Wants To Spend More On Education, Lower Taxes

New York Governor Andrew Cuomo on Tuesday proposed a $152.3 billion all-funds state budget for fiscal 2018 that would increase education funding by $1 billion and cut tax rates for 6 million middle-class residents, extending a “millionare’s tax” to pay for them.

His plan, released to the public on Tuesday night during a televised news conference, would also dedicate $2 billion to water infrastructure over five years and $650 million to life sciences research over the same period, proposals he made in a series of speeches earlier this month.

The budget would spend an additional $750 million on economic development programs, $567 million on Medicaid and $163 million to help provide free college tuition for families earning less than $125,000 a year, an idea Cuomo called a “national precedent in college affordability.”