Mayor Michael R. Bloomberg today presented a Fiscal Year (FY) 2012 Preliminary Budget and an updated four-year financial plan. The Mayor outlined a plan to close a $4.58 billion deficit with no tax increases for New Yorkers and without additional cuts in City-funded services. The plan relies on $5.2 billion in savings generated though nine rounds of deficit closing actions taken by City agencies, additional tax revenues that reflect the City’s continually improving economy and $600 million in actions taken at the State level.
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