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Estimated state budget deficit grows another $2.2 billion

Estimated state budget deficit grows another $2.2 billion

David Paterson and New York legislative leaders now agree the recession will cut projected tax reven

Gov. David Paterson and New York legislative leaders now agree the recession will cut projected tax revenues by $2.2 billion, creating a deficit of more than $16 billion for the fiscal year beginning April 1.

The latest forecast by Paterson’s budget division could put a crimp in furious lobbying for more state money for education, health care and other areas as a budget is negotiated behind closed doors.

Paterson’s budget proposal, released in December, anticipated a $13 billion deficit. That grew to more than $14 billion under the Assembly’s projection a month later.

The final deficit won’t be determined until Paterson and legislators agree on spending.

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