Governor Andrew Cuomo this afternoon detailed his budget proposals for the upcoming fiscal year which he said will build on both fiscal responsibility and social progress.

Speaking to members of the state legislature in Albany, Cuomo said the 2013-2014 executive budget includes $136.5 billion in spending while also closing a $1.3 billion budget gap with no new taxes or fees.

In addition to economic development efforts, Cuomo is proposing to raise the state minimum wage from $7.25 and hour to $8.75 an hour.