Governor Kathy Hochul has presented a comprehensive budget plan worth over $254 billion for Fiscal Year 2026, designed to alleviate New York's affordability crisis ahead of a challenging re-election campaign. This budget introduces measures such as one-time inflation refund checks for over 8 million tax filers, a tax cut for the middle class, universal free school lunches, and a housing voucher pilot program. Hochul emphasized her commitment to putting more money back into New Yorkers' pockets, responding to the economic pressures and safety concerns influencing voter sentiment as the 2024 elections approach.
"I vowed to deliver on a sweeping affordability agenda that does something that is so profound, but yet so simple: putting more money back in your pockets," Hochul said.
"New Yorkers stand to receive rebate checks in the new state budget which, according to Gov. Kathy Hochul, will help make up for losses suffered through inflation."
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