May 13
2025
Assessing the New York state budget
Gov. Kathy Hochul. Three prominent think tanks of varying political stripes agree that the state budget just adopted by Gov. Kathy Hochul and the Legislature leaves a lot to be desired. The Citizen Budget Commission labeled the spending plan “a short sighted budget.” “The extremely late $254 billion State budget virtually ignores the double-whammy threat posed by looming massive federal budget cuts and a possible recession. Instead of holding funds aside, lawmakers skyrocketed spending, slashed recession reserves, and sabotaged the State’s fiscal foundation. The budget simply is unaffordable.” The Empire Center concluded the $146 billion spending plan calls for “an[...]