New York State Leaders Reach Deal on $254 Billion Budget

A deal has finally been struck on a New York State budget for the 2025-2026 fiscal year, nearly four weeks after its due date. During a news conference in Albany late Monday afternoon, Governor Kathy Hochul announced that she and legislative leaders have reached agreement on a $254 billion spending plan. Hochul says the budget includes a "historic" middle class tax cut for 8.3 million New Yorkers...

Kathy Hochul: historic middle class tax cut

Hochul adds that the spending plan inflation refund checks of up to $200 for individuals and $400 for families...

Kathy Hochul: inflation refund checks

It also includes $2.2 billion to expand access to child care, a tripling of the Child Tax Credit to as much as $1,000 per child under the age of four, $340 million for universal school meals, $357 million for gun violence prevention programs, and discovery law changes that prevent cases from being dismissed over minor omissions.

Click here for more details on the conceptual budget agreement.

Photo by Governor Kathy Hochul's Office