The budget also provides an historic level of investment in our schools--an increase of $7 billion in education aid, hailed as an "education bonanza" by the Daily News. The new funding will be targeted to districts most in need, with all districts receiving an increase of at least 3 percent. This aid will be tied closely to accountability: school districts will have to show that the funds they receive are producing measurable improvements in the learning environments of students. Special attention and funding will be given to preschool and prekindergarten, and the cap on charter schools will be raised. I know that our parents, teachers and students will rise to the challenges set before them, and make the most of this historic investment.

We have also made great strides in easing the tax burden on the families of New York State, while providing funding for growth in our state's hardest-hit communities. The budget provides $1.3 billion in property tax relief targeted toward middle-class homeowners, and is only the first phase of a three-year plan to provide over $5 billion in tax relief to New York's families. Also, a greater number of distressed cities, towns, and villages will receive increases in aid to drive economic development or investments in technology. Businesses of all sizes will also be helped by substantial targeted tax relief, benefiting thousands of companies across industries throughout New York State. These changes will spur development, help our small businesses, and once again make New York a great place to live and work.

What we have accomplished here in New York--and that we've accomplished on time--is no small feat. Nothing we have done would have been possible without the empowerment of the people of our great state.