{"id":106644,"date":"2026-01-21T00:50:08","date_gmt":"2026-01-21T00:50:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/106644\/"},"modified":"2026-01-21T00:50:08","modified_gmt":"2026-01-21T00:50:08","slug":"new-york-gov-kathy-hochul-proposes-record-260-billion-budget","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/106644\/","title":{"rendered":"New York Gov. Kathy Hochul proposes record $260 billion budget"},"content":{"rendered":"

New York Gov. Kathy Hochul<\/a> on Tuesday proposed a record $260 billion election-year<\/a> budget.<\/p>\n

She said it’s designed to improve affordability and manage dramatic cuts in federal aid without raising taxes.<\/p>\n

“Discipline, momentum and ambition”<\/p>\n

“Looking at this budget as a whole, you can see that it reflects discipline, momentum and ambition,” Hochul said.<\/p>\n

For Hochul, the discipline is finding ways to do more with less, the momentum is buying into voter demands for affordability, and the ambition is to get reelected.<\/p>\n

That’s why she said, “Once again, there are no income taxes on New Yorkers.”<\/p>\n

She does, however, extend the business tax surcharge.<\/p>\n

But to fend off the “tax the rich” mantra of New York City Mayor Zohran Mamdani<\/a> and left-of-center progressives in the Legislature, her budget points out that city and state taxes make New York the tax champion of the universe.<\/p>\n

New York’s 10.9% personal income tax rate is the third highest in the nation, and New York City’s combined city and state personal income tax rate of 14.8% is number one in the nation.<\/p>\n

What is in New York’s 2027 state budget?<\/p>\n

Making New York more affordable, safer and consumer friendly is the governor’s number one goal.<\/p>\n

Under the budget, Hochul is:<\/p>\n

All this while coping with billions of dollars in costs to health care and poverty programs from Washington.<\/p>\n

“The newest, most unpredictable challenge is something very different —\u00a0direct attacks on states by the Trump administration<\/a>,” Hochul said.<\/p>\n

Local leaders react to state budget<\/p>\n

The governor will also have to deal with pressure from Mamdani, who wants to enact the affordability agenda he promised while facing a $12 billion budget gap<\/a>.<\/p>\n

He said he wants a bigger share of the state pie and higher taxes, saying, in part,<\/a> “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.”<\/p>\n

Nassau County Executive Bruce Blakeman, Hochul’s Republican challenger in tis year’s election, charged that the budget doubles down on the policies that have made the state unaffordable.<\/p>\n

“This budget does nothing to help everyday New Yorkers pay their bills … There’s no income tax relief, no property tax relief, no utility cost relief — nothing that helps families and seniors keep up with the rising cost of living,” he said in a statement, in part.<\/p>\n","protected":false},"excerpt":{"rendered":"New York Gov. Kathy Hochul on Tuesday proposed a record $260 billion election-year budget. She said it’s designed…\n","protected":false},"author":2,"featured_media":106645,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[426,9,11,10],"class_list":["post-106644","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-kathy-hochul","tag-new-york","tag-new-york-headlines","tag-new-york-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/106644","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=106644"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/106644\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/106645"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=106644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=106644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=106644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}