New York City Council approves $75B budget plant that holds taxes steady, avoids layoffs

New York City lawmakers have approved a $75 billion budget for the fiscal year that begins July 1.

The City Council passed the budget early Thursday after Mayor Bill de Blasio and the City Council worked out a deal that held taxes steady and avoided any layoffs.

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The budget largely backs up the liberal campaign promises that helped de Blasio in November become the first Democrat to capture City Hall in 20 years. It increases spending for education and public housing.

But it does not include the council proposal to hire 1,000 new police officers.

The budget also includes funding for the new teachers union contract, ratified by teachers this month.