Surprise in $216 Billion Budget Plan: New York Is Awash in Money
The New York Times
Gov. Kathy Hochul unveiled a record-setting new budget plan, as state officials project balanced budgets through 2027, with none of the typical warnings of billion-dollar shortfalls.
ALBANY, N.Y. — Gov. Kathy Hochul unveiled on Tuesday a record-setting $216.3 billion budget proposal meant to pay for increased spending on health care and education, and help spur New York’s economic recovery from the pandemic.
The budget reflects the state’s unusual change of fortune: Thanks to an influx of federal aid money, and last year’s tax increase, officials are projecting balanced budgets through 2027, rather than the typical warnings of billion-dollar shortfalls.
In a brief budget presentation, Ms. Hochul, a Democrat from Buffalo, characterized the spending plan as a “once-in-a-generation opportunity to make purpose-driven investments in our state and in our people that will pay dividends for decades.”
