Legislature Working Through Special Session

State lawmakers are gathered in Albany for a special economic session. The Assembly worked until early this morning to approved $425 million in cuts. The reductions include 6% of state aid to municipalities, cuts to Medicaid, and numerous member items. Sessions resumed this morning, with total cuts of up to $600 million pending. The Democratic-led Assembly also voted to pass the so-called "circuit breaker" tax cap, designed to provide provide tax relief while still raising almost three-billion in new taxes on millionaires. Republicans spoke out against the measure, saying it was not a legitimate property tax cap. And another bill headed to the governor would fine gasoline retailers up to 10-thousand dollars for establishing price zones based on demographics. Legislation passed by the Assembly in June was approved in the Senate yesterday. The bill addresses the practice of charging higher gas prices in more affluent areas, where drivers are assumed to be able to pay more.