ALBANY, N.Y. (WCAX) – New York lawmakers and the governor have reached a deal on a $268 billion budget that pushes affordability and public safety, and includes a new tax on multimillion-dollar second homes in New York City.
The plan includes a push toward universal, affordable child care as well as universal pre-K statewide for all four-year-olds in New York by the start of the 2028-29 school year. It also boosts funding for free school meals for every K-through-12 student.
There is also a one-time $1 billion energy rebate and a package aimed at lowering auto insurance costs by cracking down on fraud and limiting rate hikes.
“What is this Budget all about? It’s about lowering costs. It’s about keeping people safe. It’s about creating new opportunities — not in the abstract, but in real, tangible ways that’ll make a meaningful difference in the lives of New Yorkers,” Hochul said.
One of the biggest changes in fiscal policy will be a tax on multimillion-dollar second homes in New York City, a move pushed by the new mayor and supported by Hochul.
The budget also includes a first-in-the-nation law that will crack down on 3D printed ghost guns and add new statewide limits on how much local and state agencies can help ICE.
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