ALBANY -- Gov. Andrew Cuomo and legislative leaders reached a compromise Thursday night on a $15 minimum wage, paid family leave, a boost in school aid and a major income-tax cut.

Cuomo announced the deal late Thursday for a $147 billion budget, and lawmakers were expected to pass budget bills through the night -- missing a midnight deadline for an on-time deal.

The Democratic governor said the budget would include $24.8 billion in education aid, a 6.5 percent increase, and eliminate a cut to schools of $400 million that was installed during the recession in 2009.

The budget would also include a $4.2 billion income-tax cut for the middle class by 2025: Rates will drop to as low as 5.5 percent over that stretch for people earning between $40,000 and $300,000, Cuomo said. The current low rate is 6.45 percent.

All of it, he vowed, would keep the state's spending to 2 percent growth for the fiscal year that started Friday.

"It is a tremendous display of fiscal discipline," Cuomo told reporters at the Capitol.

The budget also includes $55 billion over five years for infrastructure projects: split between the statewide Department of Transportation and the New York City transit system, which upstate lawmakers sought, Cuomo said.

The Legislature was expected to work into the night to pass the bills once they were introduced, likely carrying on past the midnight deadline and bleeding into Friday, the start of the state's 2016-17 fiscal year.

The quick turnaround and late-night votes angered government watchdogs.

"Just when you thought it couldn’t get any worse, this secretive and broken process did," Reclaim New York, a think tank, said in a statement. "New Yorkers are entitled to real representation. But in Albany, they'd rather pass a budget on time than give legislators a clue what's in it."

Minimum wage

The deal between Cuomo and top lawmakers would see the state's current $9-an-hour minimum wage gradually increase to $15 in New York City by the end of 2018, while Westchester and Long Island would hit $15 by the end of 2021, according to Cuomo's office.

There will be a carve out for New York City businesses with fewer than 10 employees: They will have an extra year to get to $15.

For upstate, the minimum wage would hit $12.50 by 2021 with future increases determined by a yet-to-be-determined state formula -- ultimately reaching $15 an hour. So the increases would be 70 cents a year starting at the end of this year.

Cuomo said the wage hike will impact 2.3 million workers.

Republican senators in Westchester and Long Island fought unsuccessfully in pushing back a $15 wage until 2022.

Assemblyman Thomas Abinanti, D-Mt. Pleasant, Westchester County, said he would have liked to have seen Westchester's wage increase at a faster clip.

"Westchester is as expensive as New York City, if not more expensive," he said. "While this is a very good step forward, I would have preferred to see us on the same time frame as New York City."

There will also be studies along the way to determine the impact on the higher minimum wage on the economy, and Cuomo wouldn't have the ability to install wage boards to increase the rates higher. In recent months, Cuomo has used a wage board to increase the minimum wage for tipped workers and fast-food employees.

The deal would also give Cuomo a so-called "safety valve" to delay the minimum-wage increases if the economy tanks.

"This is the smartest, safest way to go about it in my opinion," Cuomo said of the staggered minimum-wage implementation.

Paid-family leave

New York is poised to install a 12-week paid-family leave that would be funded by workers through a roughly $1-a-week payroll deduction.

Cuomo initially proposed eligibility after four weeks on the job, but the agreement will require six months to be eligible, officials said.

The benefits would be phased in starting in 2018, paying workers up to two-thirds of the average salary for up 12 weeks in New York by the time it's fully in place.

The program wouldn't be funded by he New York State’s Temporary Disability Insurance, as Assembly Democrats proposed.

New York's program will be the most expansive in the nation: Federal law provides for 12 weeks of unpaid family leave and exempts employers with fewer than 50 employees.

SUNY tuition

SUNY 2020, the program that has led to $300 tuition increases each year, will not be reauthorized. So SUNY will have at least a one-year tuition freeze.

SUNY leaders said last week they would support a one-year tuition freeze if they got $73 million from the state to make up the difference. Cuomo said the SUNY and CUNY systems will get a combined $85 million in direct state aid -- which likely falls short of what SUNY was seeking -- and $300 million for infrastructure projects.

Tuition was $6,470 a year for incoming, in-state freshmen last fall, up 30 percent over the past five years.

SUNY officials Wednesday were making a late push for the SUNY 2020 plan.

"NYSUNY 2020 is critical legislation for our students and their families," SUNY said in a statement. "As Chairman McCall and the Board said last week, SUNY needs $73 million in direct state funding to stave off a tuition increase this fall - $73 million or a tuition increase. Providing a world-class education costs money.

Tax cuts

Senate Republicans were successful in pushing for a version of a tax-cutting plan they introduced earlier this month. Initially, they had been seeking a 25 percent cut to middle-class rates, as well as cuts to small business taxes.

Cuomo on Wednesday said a version of the tax-cut plan would be in the final deal: $1 billion over several years with a income-tax cut for joint filers making less than $300,000.

Ultimately, on Thursday night, Cuomo said the package would not include small-business tax cuts, but include a larger personal-income tax cut: $6.6 billion over four years, reaching $4.2 billion a year by 2025.

The National Federation of Independent Business criticized the package.

"We continue to appreciate the efforts by many lawmakers to stand firm and protect New York’s small businesses and family farms, but continued resolve is necessary," the group's executive director Mike Durant said in a statement Wednesday. "This is not a deal worth celebrating, but one which needs to be flatly rejected."

Education aid

All told, the state budget appears poised to pass a $1.5 billion increase in state aid to school district. That would push the total to nearly $25 billion.

Cuomo proposed a 4.3 percent increase in school aid, to a total of $24.2 billion.

But the Legislature pushed for well above the $991 million that Cuomo sought and also eliminated the Gap Elimination Adjustment, a recession-era cut to school districts that remains in effect.

Cuomo had proposed a two-year plan for the state to pay back schools $434 million for the cuts made during the recession.

"The priorities should be the schools that need the most help in this state," Cuomo said Thursday night.