Mayor Bloomberg and the City Council agreed on NYC's budget for next year a week before the deadline. The $70 billion spending plan will be Bloomberg's final as mayor of NYC. Bloomberg and the City Council announced the agreement on next year's budget Sunday.

AM New York reports that not only does the plan not raise taxes for New Yorkers, but it also doesn't contain any cuts to major city services. The plan actually is expected to help NYCHA, which will receive $58 million for senior and after school centers. The budget will also allocate $250 million for Bloomberg's post-Sandy improvements plan.

The City Council is expected to vote on and pass the budget this week.

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