Governor Kathy Hochul's fiscal year 2026 budget proposal of $252 billion reflects a pattern of irresponsible spending, ignoring New York's massive debt of over $180 billion. By proposing increased Medicaid spending and extending temporary tax increases, Hochul overlooks the pressing financial crisis facing the state. Critics argue that these measures will only exacerbate New York's economic woes and contribute to the state's alarming population decline, as residents flee high taxes and a costly government. The budget, instead of addressing core issues, appears to opt for more of the same detrimental policies.
After years of runaway spending and massive deficits in Albany, her fiscal year 2026 budget is more of the same. Actually, it's doubling down on failure.
The proposed budget also calls for extending the current 'temporary' tax increase, a move I predicted in 2021. These higher tax rates are a key reason why New York is hemorrhaging people at an alarming rate.
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