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NY gov to present state budget with no tax hike

New York Gov. Andrew Cuomo will present lawmakers a $132 billion state budget that calls for a slight spending increase but doesn't raise taxes.

State spending would rise by about 2 percent under Cuomo's plan for the fiscal year that begins April 1.

The governor is proposing no new or higher taxes or fees, but instead calls for spending about $2 billion from the "millionaire tax" increase on New York's top earners adopted in December.

It includes $1.4 billion in increases for public schools and for hospitals and health care facilities through the Medicaid health care system.

Cuomo also wants a less expensive retirement system for new hires in state and local government jobs.

Additionally, he's proposing to withhold state funding from school districts that don't enact tougher teacher evaluations.

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