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JOINT STATEMENT BY GOVERNOR SPITZER, ASSEMBLY SPEAKER SILVER, MAJORITY LEADER BRUNO, ASSEMBLY MINORITY LEADER TEDISCO AND SENATE MINORITY LEADER SMITH REGARDING ONGOING BUDGET DISCUSSIONS

As a result of intensive discussions during the last several days, several areas of possible agreement have been identified.

We are in accord that certain amendments should be made to the Executive Budget proposal, including the following:

More than $350 million should be added to offset proposed cuts in health care;
Approximately $500 million should be added to education spending to reduce the number of save-harmless districts, and provide increased operating aid for districts throughout the state;
The proposed property tax relief program should be amended to provide savings via rebate checks; and
Certain provisions of the proposed loophole closure package should be offset by business tax reductions.

We will now forward these proposals for consideration and action.

The proposed amendments are expected to result in a final budget that reduces Medicaid spending by more than $1 billion, creates a new foundation aid formula and provides significant property tax relief primarily to the middle class.

We will continue to address outstanding issues, and remain hopeful that an on-time budget will be approved.