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Article: Nassau Co. To Cut Jobs, Raise Taxes: Seen as Right Move For Fiscal Recovery.
- Article from:
- The Bond Buyer
- Article date:
- November 2, 1999
- Author:
CopyrightCOPYRIGHT 1999 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Financial professionals yesterday hailed the $2.2 billion budget Nassau County's Republican-controlled legislature passed Friday, saying their agreement to cut government jobs and raise property taxes may be Nassau's first firm step on the road to fiscal recovery.
Bruce Blakeman, presiding officer of Nassau's legislature and the plan's architect, said the budget represents an assumption of responsibility for getting the county's financial condition set straight. Republicans hold a veto-proof 14-to-5 majority in the legislature, and will override County Executive Thomas S. Gulotta, also a Republican, if he tries to block the plan.
Caroline Smith, a ...