NYS Legislature Said to Be Near Budget

Lawmakers in Albany are tight-lipped about potential budget cuts they'll need to make this week to close the state's $1.5 billion gap. Karen DeWitt reports from Albany.

REPORTER: The legislature is working towards a self-imposed deadline of later this week, after Governor Paterson rescinded his request that the gap be closed by February First. But Assembly Speaker Sheldon Silver says he's not ready to reveal what exactly the cuts will be.

SILVER: I think you'll wait and see we're in the middle of a conferencing that and working with the senate on that and, before the end of this week, you will see it.

REPORTER: The speaker did say he did not want to approve cuts that would have far reaching effects in budget areas like school aid. He says he wants to see what the federals stimulus package holds for New York first before making any decisions that could effect programs in the long term. In Albany, I'm Karen DeWitt.