The committee also called for costs to be cut by 30 percent.
Last year, the system's budget was cut by 18 percent.
Money for public housing would be cut by $382 million, or 6 percent, to $6 billion.
Fees on two and a half million more will be cut by 25 percent.
Interest expenses were cut by 34 percent, or $34 million.
Among big companies with annual sales of more than $500 million, 60 percent cut back.
"I get a 60 percent cut off of whatever they sell it for."
The 20 groups with budgets of less than $6 million would be cut by 24 percent.
The utility's rates did not change from 1983 to 1987, when they were cut by 3.1 percent.
The administrative staff would be cut by 5 percent, or about 130 jobs, state officials said.