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When President Obama signs the stimulus bill next week, Mayor Bloomberg predicts New York will get enough education funding to prevent the city from laying off any teachers.

The stimulus is expected to cover a $770 million cut in state aid to New York City.

But the city's own budget problems are so bad that it might have to cut another $500 million from the schools.

Michael Mulgrew, chief operating officer for the United Federation of Teachers, says no one knows if the federal money can fill that hole, or if it has to go through Albany, first.

MULGREW: So that's the part that you keep hearing about when people keep saying over and over again 'we're not sure yet' because the language isn't out.

REPORTER: The UFT and various education advocates have called on the state to raise taxes on the wealthiest 5% of New Yorkers.

Mayor Bloomberg and Republicans in the State Senate oppose additional income taxes.