Gov. Kathy Hochul unveiled a $227 billion budget proposal on Wednesday that she says follows through on her pledge to not raise income taxes in the 2024 fiscal year.
All-funds spending is $227 billion, an increase of $5.4 billion over the current budget.
State operating funds are projected to be $125.2 billion, a 2 percent increase over the current budget.
“Our $227 billion budget will include unprecedented investments in areas that will make a positive impact in people’s lives, that’ll make the New York dream real, and as I said, make it safer, more affordable, more livable,” Hochul said.
The governor on Wednesday highlighted these budget items:
- $1 billion over several years for mental health programs
- $337 million for gun violence prevention programs
- $5.5 billion to to promote for clean environment and energy efficiency programs
- an additional $1 billion for capital projects at hospitals and health care facilities
- $1.3 billion in economic development projects
- $1 billion for health care, shelter and other services for asylum seekers
- $34.5 billion in total school aid
- $1.5 billion in new capital projects for SUNY and CUNY
- $270 million in new operating support for SUNY and CUNY campuses
“Today we’re here to talk about how we can help – help more New Yorkers realize their dreams,” Hochul said. “So our agenda focuses on affordability, livability, safety, and includes groundbreaking proposals dealing with housing, mental health, child care, public safety, and even a minimum wage increase during these difficult times. All this just to make it a little bit easier to be a family living here in New York.”
The full budget book can be found here.
Joint legislative hearings on the Executive Budget proposal begin in Albany on February 6.