(Karen DeWitt -- Albany) The New York Thruway Authority has rescinded a controversial 45% truck toll hike proposal, saying it intends to cut costs instead.

Thruway executive director Tom Madison, speaking Monday at an announcement with Governor Cuomo, says the authority scrapped plans for the truck toll hike and will economize instead.  Some authority workers will be laid off and the rest will see their benefits cut, state police will have to fund Thruway patrols themselves, and some state agencies might take over some of the services provided on the canal system, which has been a financial drain on the authority.

Cuomo says he’s pleased. “I thought it would  be  counterproductive form an economic development point of view,” he said.

Monday's announcement ends months of back-and-forth of uncertainty. The Authority originally announced the toll hike last spring, but New York State's comptroller blasted those plans -- leading the proposal to languish.

The cancellation of the toll hike was heralded by business leaders, who had pushed to see the truck toll increase rescinded. “We are thankful and relieved,” said New York State Business Council  president Heather Briccetti.