NY leaders meet, continue talks on state budget

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New York Governor Andrew Cuomo and legislative leaders hope to announce an agreement on the third straight on-time budget.

But in Albany budget negotiations, all deals hinge on the final one. After closed-door meetings Sunday, all sides claim they are a good distance apart.

Some difficult sticking points are whether to raise the minimum wage to as much as $9, whether to adopt business tax cuts, and whether to extend a "temporary" income tax increase for the second time.

Sen. Jeffrey Klein, who leads the Independent Democratic Conference which shares leadership of the Senate, said Sunday that there was no agreement on how much the minimum wage would rise. Republicans who share control of the chamber have opposed a minimum wage hike, but have been open to discussing it.

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