New York state passes third on-time budget in a row

NEW YORK, March 29 Fri Mar 29, 2013 10:08am EDT

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NEW YORK, March 29 (Reuters) - New York's Assembly signed off on the state's $135 billion budget for fiscal year 2013-2014 on Thursday just before midnight, the third budget in a row to be passed on time in a state known for regularly overshooting.

"After years of out of control spending, for the third year in a row we have an on-time budget that holds spending growth under 2 percent," New York's governor Andrew Cuomo said in a statement.