Governor Hochul highlights tax relief, school funding in her budget proposal
ALBANY, N.Y. (AP/WHEC) — New York would boost state school aid, provide sweeping property tax relief and deliver bonuses to health care workers over the next year if lawmakers pass a $216.3 billion budget outlined by Gov. Kathy Hochul on Tuesday.
Hochul is proposing a 3.1% spending increase in taxpayer dollars for her 2022 proposed budget, which would run from April through March 2023.
The Democratic governor says that the spending increase is just below the rate of inflation.
Top legislative leaders are expected to keep negotiating with Hochul to finalize the budget, which must be in place by April 1. The final budget often largely resembles a governor’s budget proposal, with some tweaks sought by lawmakers.
School spending would increase by $2.1 billion, a 7.1% increase. New York raised taxes on high earners and corporations last year with plans to use millions in new tax revenues to keep increasing the state’s share of school aid.
Her budget also includes $2.2 billion in property tax relief and $1.2 billion in bonuses for health care and front-line workers.
She didn’t immediately provide specifics of how the state would guarantee such bonuses, and for how many workers.
Hochul wants the state to set aside more funding in case of future catastrophes. Some fiscal watchdogs are worried about the state’s reliance on one-time federal funding amid the coronavirus pandemic.
Hochul said rainy day funds would make up 15% of the state’s budget under her plan.
The governor also proposes $2 billion in pandemic recovery spending, and subsidies to make 400,000 more families eligible for daycare.
Her budget doesn’t include some spending increases sought by liberal advocacy groups, including a push to add $3 billion in aid for undocumented workers.
It also didn’t include any mention of money for a new Buffalo Bills stadium.
A spokesperson for the governor said negotiations remain ongoing between Hochul and Erie County officials.
The new future home of the Buffalo Bills has been on the table for months. It would cost $1.5 billion to build a new stadium in Orchard Park like the team’s owners want—and that’s without a roof.
Instead of raising taxes, we’re putting more money back into people’s pockets. My budget delivers billions in tax relief for millions of New York residents, homeowners, and small businesses. pic.twitter.com/UxnZI0m4wC— Kathy Hochul (@GovKathyHochul) January 18, 2022
It’s past time to make repairs to our roads and bridges, build new transit options, modernize existing transit hubs, and revitalize communities. Our Capital Plan makes the largest-ever investment in our State’s infrastructure: $32.8 billion. pic.twitter.com/XjQkqWrlKm— Kathy Hochul (@GovKathyHochul) January 18, 2022
Every New Yorker deserves the dignity of having access to quality health care, especially during a public health crisis. We’re making the largest investment in health care in State history: $10 billion. pic.twitter.com/n5XNgSDpOs— Kathy Hochul (@GovKathyHochul) January 18, 2022
We will provide more than $31 billion in aid for our schools, continuing our commitment to fully fund Foundation Aid and bringing us to the highest level of State aid for education ever. pic.twitter.com/UME7Cl1AVS— Kathy Hochul (@GovKathyHochul) January 18, 2022
And because working parents need all the support they can get, we are increasing our investments in childcare to more than $1.4 billion. pic.twitter.com/EVDfHBfkHX— Kathy Hochul (@GovKathyHochul) January 18, 2022
We are confronting the housing affordability crisis with a $25 billion plan to create and preserve 100,000 affordable homes, including 10,000 homes with supportive services for vulnerable populations. pic.twitter.com/mQrsDArQsK— Kathy Hochul (@GovKathyHochul) January 18, 2022
Click here for the full budget summary.
Hochul outlined many of the proposals originally in her state of the state address.