Governor Hochul announces a conceptual agreement with legislative leaders on key priorities in the Fiscal Year 2025 New York State Budget. (Mike Groll/Office of Governor Kathy Hochul)
The New York State Legislature passed a $237 billion dollar budget Saturday, two weeks after the 2024-25 budget was due.
Governor Kathy Hochul issued a statement saying, “This budget agreement represents the most significant improvement in housing policy in three generations. It includes transformative investments in health care and education that will put our State on the path to fiscal stability. It will end co-pays for insulin, establish first-in-the-nation paid prenatal leave, and launch the EmpireAI consortium. This budget cracks down on retail theft and gives us new tools to shut down illicit cannabis storefronts. It helps the children of New York City by extending mayoral accountability for public schools. And we got it all done without raising income taxes by a single cent. ”
State Senator George Borrello issued a statement saying the state budget is headed in the wrong direction, “It does nothing to improve affordability, the migrant crisis, public safety, or our economy. It will do nothing to stop or slow the outmigration of our residents and businesses.”
The state budget includes an additional $50 million in Aid and Incentives to Municipalities. This is the first increase in 15 years.
The New York Conference of Mayors said in a statement, “We firmly believe that the only way to make our state safer, stronger and more affordable is by working together — and local officials are more than ready to do that. We are confident that the benefits of this increase will clearly demonstrate to our state leaders the value that comes from investing in their municipal partners and hope that this will pave the way for consistent and meaningful support for our communities going forward.”
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