Gov. Kathy Hochul unveiled her $260 billion spending plan on Tuesday, highlighting the lack of significant tax hikes in a year that she’s trying to get reelected.

Hochul pointedly called out President Donald Trump’s billions of dollars in cuts to health insurance, while also reiterating she doesn’t need to heed pressure from Mayor Zohran Mamdani to raise taxes on the wealthy.

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Gov. Kathy Hochul unveiled her $260 billion spending plan on Tuesday, highlighting the lack of significant tax hikes in a year that she’s trying to get reelected

Hochul promised to use state funds for the first two years of a child care pilot program for two-year-olds in the five boroughs, but has so far not committed to future funding. Critics argue, taxes are likely on the table

Up for reelection next year, Hochul, a moderate Democrat, cited better than predicted Wall Street returns, specifically singling out the tech industry

Following Hochul’s nearly 30-minute speech in Albany, Mamdani blamed former-Mayor Eric Adams for leaving him with a $12 billion budget hole to fix

“This is not an austerity budget, but it is a disciplined one,” she said, defending her plans to fund child care, education and health care as doable without raising taxes this year.

“We’re doing it while protecting taxpayers,” she added.

Hochul promised to use state funds for the first two years of a pilot program for two-year-olds in the five boroughs, but has so far not committed to future funding. Critics argue, taxes are likely on the table.

Up for reelection next year, the moderate Democrat cited better than predicted Wall Street returns, specifically singling out the tech industry.

“New York State is receiving over $17 billion in revenue over the next two years that exceeds our earlier projections,” she said. “That $17 billion [is] from high-income earners, from record Wall Street bonuses and from an economy that’s booming again.”

It contrasts Mayor Zohran Mamdani’s preferred approach: a new state income tax hike on the wealthiest New Yorkers.

Following Hochul’s nearly 30-minute speech in Albany, Mamdani blamed former-Mayor Eric Adams for leaving him with a $12 billion budget hole to fix.

“We reject austerity politics. Working New Yorkers should not have to pay the price for the failures of the Adams administration,” he said in a statement.

“It is time to ask New York City’s wealthiest and large corporations to pay their fair share, while also working toward a fiscal relationship with the State that better reflects New York City’s status as the economic engine of the state,” Mamdani continued.

“He’s doing his job as a mayor, who is supposed to advocate for their community,” Hochul said when asked to respond. “I have no problem with someone making a strong case to us,” she added.

She made a point to take aim at President Donald Trump,

“President Trump declared war on states,” she said, highlighting a growing, multi-billion dollar Medicaid budget and cuts to health insurance for over 1 million New Yorkers.

“Federal funds in this budget are down roughly $10.3 billion,” Hochul added. “We will not shift costs onto families or leave vulnerable communities without a lifeline like Washington has — that’s not who we are!”

State lawmakers reacted to the speech.

“I don’t see a whole lot that’s going to make New Yorkers feel like their lives are going to be more affordable,” Robert Ortt, the Republican State Senate minority leader, said.

“If the governor has a way of finding the resources to do that outside of raising revenues, we’re all ears. But the important thing is to make child care more affordable,” Michael Gianaris, the Democratic State Senate deputy majority leader, said.