In her State of the State address last week, Gov. Kathy Hochul proposed a series of what she described as affordability measures for New Yorkers, including tax cuts for the middle class, an expansion of the child tax credit and universal school meals. She estimates the proposals will put about $5,000 back into the pockets of many New York families.
On Tuesday, she outlined how she would pay for the ideas in her executive budget proposal.
With today’s proposed budget, Hochul is, in essence, presenting her initial hand of cards, one that the legislature will respond to in an annual game of Albany poker known as the budget process.
It’s an enormous budget – the largest proposed spending plan in state history, weighing in at $252 billion. If the budget is approved, Medicaid will increase by 14% and school aid will be increased by 4.7%.
While state Budget Director Blake Washington assured New Yorkers that “our economy is strong,” President of the Citizens Budget Commission Andrew Rein told Capital Tonight that the budget actually “weakens the state’s fiscal foundation and competitiveness.”
Rein spoke with Capital Tonight host Susan Arbetter.