State Budget News: Union givebacks, Wall Street taxes, and still no budget

Some members of public employees unions in New York are bucking their union bosses and saying they should give back their 4-percent raises, according to Associated Press.

"I talked to my friends and neighbors who are losing their jobs and taking pay cuts and for me to get a raise, I functionally have to ask them to pay for it," Regan said in an interview with The Associated Press. He said he hasn't heard from anyone who opposes his view.

In other budget news, a group calling itself Better Choice for Budgeting Campaign, is calling on higher taxes and closing tax loopholes for Wall Street financiers and hedge fund managers.

“When you look at hedge fund managers making millions and millions of dollars and Wall Street having caused a great deal of the economic turmoil we find ourselves in, they should really help pay for it,” said Sen. Neil Breslin.

And while New York's budget is a week late today, Albany's Democrats and Republics are squabbling over procedure, according to the Times-Union.

Senate Democrats gathered on Wednesday to roll out an ambitious set of reforms to New York's budget process. Republicans shot back that the majority would do better to devote their time to the work at hand, and lambasted Democrats for failing to follow budget reforms that are already on the books.