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New York Gov. Kathy Hochul presented her $252 billion executive budget Tuesday, aiming to strike living costs for New Yorkers through extensive tax cuts, expansion of the child tax credit and providing inflation relief. The proposal surpasses last year’s record-high budget by roughly $20 million.

The proposed budget focuses predominantly on directing state spending to middle-class families and strengthening childcare resources, with investments in public schools and expanding tax relief. Hochul reintroduced a $1 billion tax cut for middle-class New Yorkers and proposed a one-time, $3 billion investment in inflation refund checks to provide individuals with $300 and families with $500.

The governor also committed to tripling the child tax credit, which would provide up to $1,000 for families with children under 4.

“Every month, working New Yorkers face difficult choices about how to stretch every dollar,” Hochul said. “That’s why this budget is laser-focused on putting money back in New Yorkers’ pockets.”

The budget includes a $120 million investment in free breakfasts and lunches for public school students, with $1,600 allocated per child. The budget also provides an additional $110 million toward Hochul’s ultimate goal of universal childcare. The investment would allow new childcare facilities to open statewide and update current spaces.

Hochul expanded her objectives in schools to limit the presence of electronics in classrooms, calling for public schools across the state to prohibit cell phones and other devices during the school day. She said the changes will combat upticks in mental illness and distraction for children in the social media age.

The proposal also includes investments in 100 playgrounds across the state and a $50 million follow-up contribution to last year’s $150 million NY SWIMS initiative, constructing pools and offering free swim lessons for kids in New York state.

The budget extends cost-cutting goals to housing expenses, including the $1 billion ‘City of Yes’ investment, which aims to create 80,000 new homes by 2040. The plan will allot $100 million toward helping first-time buyers with starter homes and down payment assistance. Hochul said she will impose a 75-day pause on private equity firms’ ability to bid on residential properties.

Hochul also introduced investments in infrastructure, naming the city of Syracuse’s I-81 viaduct project among many goals across the state. The viaduct runs through the city’s 15th Ward, a historically Black neighborhood that has suffered economically since the structure’s construction in the 1960s. According to recent estimates, the project will require $2.25 billion.

Hochul addressed the uptick in crime, calling for increased police presence in subways and other public areas with high crime rates. Additionally, the NYPD is working to crack down on the homeless presence in subway stations by strengthening involuntary commitment laws that regulate the detainment of people with mental illnesses or disabilities.

In 2024, New York saw the lowest statewide shooting rate in its history. Hochul remarked on the past year’s success in improving the state’s safety but called for further efforts. The proposed budget will commit $370 million to gun violence prevention programs, upgrades in technology carried by police and constructing a new Special Operations Command Headquarters, centralizing intelligence between state and federal law enforcement agencies.

The proposal also focused on improving the safety of vulnerable populations with a $35 million grant for upgrading security measures in synagogues and mosques.

While the governor didn’t extensively discuss how President Donald Trump’s policies will affect New York state, she did acknowledge the new administration’s agenda and “new challenges” for New Yorkers. She warned that Republican-led efforts in Washington D.C. could yield funding cuts that could limit education, Medicaid and childcare.

“Those who are hurt need to raise their voices (and) direct their anger at Washington and push their members of Congress to fight for them,” Hochul said. “New York and other states simply will not be able to shoulder these costs on our own.”

Owing to unusually large state reserves — estimated at around $21 billion — Hochul will have the resources to overcome potential gaps in federal funding under the second Trump administration.

Published on January 21, 2025 at 11:08 pm