Schiumo's blog will be posted later...

State leaders reached a tentative deal today on a 132-billion-dollar budget for next year. Governor Paterson said federal stimulus money and higher taxes for the wealthiest New Yorkers could prevent the need for massive cuts to education.

Under the deal, individuals making more than 250,000 dollars and married couples earning 300,000 will see their tax rate jump to almost 8 percent. Those making more than 500,000 will see an even bigger increase.

The plan also includes higher fees on utility bills, vehicle registration and bottled beverages. But aid to public schools would increase about 1.1 billion. Lawmakers say a funding plan for the cash-strapped MTA is still being considered.

Do you agree with the State's plan? Is it fair to raise taxes for only wealthy New Yorkers? Are you encouraged to hear there might be no cuts to education, possibly sparing teacher jobs?

Send us your thoughts using the link above.