On Wednesday night, lawmakers in Albany signed off on a $268.5 billion state budget — nearly two months past the deadline.
It marks the latest state budget New York has had in 16 years.
The final agreement includes rolling back the state’s climate law and environmental review process tied to housing development. It also features car insurance reforms, limits local cooperation with federal immigration authorities and establishes a “buffer zone” around houses of worship.
The budget also includes a number of wins for the Mamdani administration, such as a new tax on luxury second homes in the five boroughs; allowing the city to defer its payments to the pension system; and $1.5 billion in additional funding to close the New York City’s budget gap.
Gov. Kathy Hochul joined NY1 political anchor Errol Louis on “Inside City Hall” Thursday to discuss the details.
Tap the video player above to watch the interview.