Gov. Kathy Hochul has authorized a $254 billion state budget for the upcoming fiscal year, marking a notable increase of nearly 6% from the previous year. Critics have raised concerns regarding transparency, as comprehensive cost and revenue breakdowns are typically not released promptly. State Comptroller Tom DiNapoli criticized the budget for lacking strategies to address potential future economic challenges. Hochul defended the budget, asserting that using reserve funds was essential in response to current economic difficulties, which she attributes to prior federal leadership.
Hochul insisted earlier this week that spending the reserves was necessary because she says the state is in the midst of an economic downturn, which she blames on President Trump.
State Comptroller Tom DiNapoli ripped Hochul and the legislature for ignoring potential looming crises while planning to spend more, including a nearly $7 billion transfer of funds out of reserves to pay off debt owed to the feds for a pandemic era loan.
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