Albany, NY - March 14, 2014 - Senator Ken LaValle reports that last night, the New York State Senate passed their Budget Resolution to address the priorities of Long Island families. The document now becomes the framework for budget negotiations with the Assembly.
Senator LaValle released the following highlights of the Budget Resolution. The proposal:
- Reduces taxes on hardworking families, small businesses and manufacturers, while keeping overall spending growth below two percent
- Provides a major funding increase for public education – helping to ensure outstanding schools and a quality education for children. It includes an additional $811.9 million increase in State school aid over the Governor’s budget proposal to balance quality education at a price taxpayers can afford.
- Includes implementation of the Senate’s “Freeze-Plus NY” program – a property tax freeze that would provide $1.4 billion in additional property tax relief over two years.
- Restores $541 million of the Gap Elimination Adjustment (GEA), a controversial budget maneuver previously enacted, which hurt Long Island schools. Under this plan, the GEA will be completely eliminated in two years after a total restoration of $1.1 billion – helping our schools and property taxpayers.
- Makes college education more affordable for hardworking families. The Senate College Affordability Plan would help middle-class families afford higher education, pay off their student loan debt and encourage graduates to start a career in New York State.
- Increases the income eligibility for the EPIC prescription drug program. The Senate would raise the income range from $35,000 to $75,000 for individuals and from $50,000 to $100,000 for married enrollees.
The Senate and Assembly will now meet in Joint Conference Committees to reconcile the differences in the two Chamber’s Budget Resolutions. The NY State Budget is required to be passed by April 1st.