The state Legislature probably will approve about 75 percent of the $550 million in new taxing authority that New York City officials say they need to help balance their new budget, Assembly Speaker Mel Miller said Monday.
"At this point . . . the city will get somewhere between $420 million and $450 million of its taxes," Miller, D-Brooklyn, said.
Failure to approve the full tax hike proposal would force New York City Mayor David Dinkins and the City Council to raise other taxes even further, such as property tax, or make deeper cuts in city services.