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NYC unveils 68.7 billion dollar budget proposal

05-04-2012 04:18 BJT

NEW YORK, May 3 (Xinhua) -- New York Mayor Michael Bloomberg presented Thursday a revised 68.7 billion U.S. dollar budget for 2013 that contains no new taxes and retains more than 1, 800 teaching positions he once proposed to cut.

"Our budget won't impose any new taxes on New Yorkers, maintains the strength of the NYPD and continues our strong support for public schools," said Mayor Bloomberg.

Nevertheless, the mayor proposed cuts to some 50,000 pre- and after-school programs and the closure of 20 firehouses.

Bloomberg said that hard times for Wall Street firms are responsible for much of an unexpected shortfall. Tax revenues for next fiscal year are expected to be 352 million U.S. dollars lower than anticipated.

The mayor said that the city still faces budget gaps of roughly 3 billion U.S. dollars in fiscal year 2014, 3.7 billion U. S. dollars in 2015 and 3.2 billion U.S. dollars in 2016.

The mayor now has until the end of June to negotiate a final version of the 2013 budget with the City Council.

 

Editor:Zhang Pengfei |Source: Xinhua

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