One way to bridge New York City's budget gap while helping the environment may literally be in the bag.

According to New York 1 News, Mayor Michael Bloomberg proposed putting a five-cent fee on plastic bags provided to customers at all stores in the city.

Details of the proposal are still being worked out, but the tax would be one small contribution toward meeting an estimated $4 billion budget gap in the current and next fiscal years.

The idea comes just months after the city passed a law requiring large retailers to offer facilities to recycle plastic bags. That law has already come into effect, as evidenced by the bins at entrances to major retailers like Barnes & Noble, Target, Stop-N-Shop and others.

Last week, the city also announced that recycling rates are up and that residents can now recycle at new sidewalk bins in all five boroughs.