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(WNY News Now) – Governor Kathy Hochul presented a $252 billion Fiscal Year 2026 Executive Budget, emphasizing middle-class tax cuts, housing solutions, and record public safety investments, all without increasing income taxes.
New York Governor Kathy Hochul unveiled her Fiscal Year 2026 Executive Budget, a $252 billion proposal aimed at easing financial burdens, addressing housing shortages, and bolstering public safety.
Key highlights include a $5 billion affordability agenda that features the largest middle-class tax cut in 70 years, providing savings to 8.3 million New Yorkers. The budget also introduces a $3 billion one-time inflation refund, offering $300 checks to individuals and $500 to families. Families with young children will benefit from an $825 million expansion of the child tax credit, providing up to $1,000 per child under age four.
To combat New York’s housing crisis, $760.5 million is allocated to pro-housing communities, with $100 million earmarked for first-time homebuyers. The Governor also committed $1 billion to support New York City’s “City of Yes” initiatives, aimed at creating 80,000 new homes over 15 years.
Public safety remains a priority, with $370 million dedicated to gun violence prevention and $77 million funding a six-month law enforcement surge in New York City subways. Hochul also announced streamlined discovery laws to expedite trials and introduced measures for better mental health care, including $160 million for new forensic psychiatric beds.
The budget directs $1 billion toward clean energy projects, marking the state’s largest climate investment. Additional funding includes $3 billion for safety net hospitals and $13 million for implementing distraction-free zones in K-12 schools.
Governor Hochul emphasized fiscal responsibility, maintaining $21 billion in reserves for unexpected challenges. She urged federal lawmakers to protect critical funding streams, including Medicaid and education, amidst uncertainty in Washington.
The full budget book can be viewed here.
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