Gov. Andrew M. Cuomo and legislative leaders announced agreement on a $132.5 billion budget Sunday, marking the first cut in overall state spending in 15 years.
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The new budget reduces spending approximately $3.7 billion from the current fiscal year.

Here and here. $3.7 billion out of the previous budget of $136.2 billion works out to a 2.7% reduction. That’s it?  Whoop-ti-do. A rounding error.