Governor Kathy Hochul's proposed budget for the 2026 fiscal year amounts to $252 billion, representing a $9 billion increase in overall spending. While aimed at affordability, the budget significantly hikes operational spending by 7.9%, raising concerns about potential economic deficits projected at $6.5 billion by 2027 and increasing annually thereafter. The plan includes various tax credits and rebates aimed at voters, but critics argue it neglects real financial stability and quality of life improvements, ultimately burdening taxpayers with an unsound fiscal strategy.
The budget blows the opportunity to use billions of dollars to improve New Yorkers' quality of life and stabilize the state's finances.
Hochul's proposed budget is $252 billion, increasing overall spending by $9 billion and making operating outlays rise by 7.9%, creating significant future deficits.
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