Albany leaders: Close to budget resolution

deadline for lawmakers this year with the threat of a complete shutdown of state government if an agreement isn't reached.

The state is facing a $10 billion deficit, prompting calls for no new taxes and sweeping budget cuts from the new governor in an effort to match the state's spending habits with the revenue it collects.

Assembly Speaker Sheldon Silver says that some of the $1.5 billion that Cuomo has proposed be cut from state education funding could be restored, but he wouldn't specify as to how much.

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