New York state lawmakers are pressuring New York City Mayor Bill de Blasio to accept the same property tax cap that now applies to every other local government in the state.

Appearing at a budget hearing Tuesday in Albany, de Blasio argued against the tax cap, saying his administration has found billions of dollars in savings and is committed to building financial reserves to prepare for the next economic downturn.

He says the state should not impose new restrictions on its largest city and greatest economic engine.

The state Senate voted Tuesday to impose the 2-percent cap on New York City.

Republican Senate Leader John Flanagan says the cap has been a “tremendous success” in giving relief to taxpayers throughout the state.

(AP)