Lawmakers reach agreement on New York State budget
Albany, New York — According to Governor Kathy Hochul, the budget will hopefully be finalized in the next day or so. New York State legislators have come to a conceptual agreement on the FY 2023 Budget.
On Thursday, Governor made this announcement during a press conference.
The budget will be $220 billion, with 15% of state operating funds going to reserves, the governor said. According to Hochul, the budget is balanced and fiscally responsible.
The budget was due on April 1. On Monday, a budget extender passed, letting state employees continue receiving their paychecks.
According to Hochul, the budget will include:
• Tax relief for middle-class families
• A property tax break for homeowners
• Starting June 1, a state sales tax suspension on fuel until December 31
• A tax relief program for small businesses to offset the effects of the COVID-19 pandemic.
• Alcohol to go with the purchase of food
• $31.5 billion dollar program for school aid
• An investment of $7 billion dollars over 4 years into childcare
• Front-line worker healthcare bonuses
• Wage increases for health aides
• Funding for the healthcare system
• Funding for the rental assistance program
• Investment in clean energy
• $25 billion for a five-year housing plan to create affordable homes
• $32.8 billion for a transportation infrastructure plan
• The replacement of JCOPE with a commission of 11 members to make recommendations to law school deans to give approval or denial
• Addressing public safety, including bail reform