The Republican-led state Senate says there’s slightly more money to work with than projected in the governor’s state budget proposal, while the Democrat-led Assembly predicts a recession and $615 million less to spend in the coming fiscal year.
The economic forecasts highlight the divide between the two chambers, which are now trying to adjust Democratic Gov. Eliot Spitzer’s proposal.
Spitzer’s $124 billion budget would increase spending by 4.8 percent — twice the inflation rate — and fill a $4.7 billion deficit for the fiscal year beginning April 1.
The Senate Republicans predict there will be $99 million more in revenue.
The 2008-09 state budget is subject to approval by the Legislature.
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