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NYC mayor Bloomberg proposes $86.7b budget for 2014

Published on Jan 30, 2013 6:02 AM
 
New York Mayor Michael Bloomberg unveils a proposed budget in New York on Jan 29, 2013. Mr Bloomberg on Tuesday proposed a US$70.1 billion (S$86.7 billion) budget for fiscal 2014 - his last as mayor - that closes a US$1.1 billion deficit without tax hikes or layoffs. -- PHOTO : REUTERS

(REUTERS) - New York City Mayor Michael Bloomberg on Tuesday proposed a US$70.1 billion (S$86.7 billion) budget for fiscal 2014 - his last as mayor - that closes a US$1.1 billion deficit without tax hikes or layoffs.

The mayor's proposed budget calls for the city to spend US$50.7 billion in fiscal 2014 on fire, police, health, education, pension and healthcare costs.

Of that, expenditures over which the city has control would drop 1.1 per cent, or US$254 million, next year from the current fiscal year, which ends on June 30.

The budget is the last one Mr Bloomberg, a political independent, will present to city lawmakers before his third and final term expires at the end of this year.

 
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