City Council says mayor's budget needs improvement

The City Council is telling Mayor Bloomberg (R-NYC) that his preliminary budget for 2008 doesn't make the grade.The council's budget plan calls for $61 million more than the mayor's budget. The money, according to the City Council, wouldn't be spent on unnecessary agency funding, but on education. The City Council wants $12 million dedicated to programs in the classroom.The City Council's budget also calls for tax refunds for renters. The proposed tax credit would mean $300 for a family of four that rents and makes less than $75,000. A final version of the budget will be released once the mayor's office and the City Council reach an agreement.