Governor Hochul Releases Proposed Fiscal Year 2024 Executive Budget

Governor Kathy Hochul has announced her executive budget for fiscal year 2024.

Highlights of her proposed plan include:

• $1 Billion Plan Will Fix New York State’s Continuum of Mental Health Care
• New York Housing Compact Will Build 800,000 New Homes, Address Statewide Housing Shortage
• $337 Million Investment Aimed at Reducing and Preventing Gun Violence   
• Addresses MTA ‘Fiscal Cliff’ While Investing in Public Transit Statewide
• Investing $5.5 Billion to Promote Energy Affordability, Reduce Emissions, and Clean Our Air and Water, Building on More Than $30 Billion Committed to Climate Action
• $7.6 Billion, Four-Year Child Care Investment Continues, Eligibility Increased To Include an Additional 113,000 Children
• $1 Billion Health Care Investments for Capital Projects at Hospitals and Other Facilities
• $1.3 Billion Economic Development Investments Will Create Jobs of the Future Across the Empire State
• $1 Billion Investment Will Provide Health Care, Shelter, and Other Critical Services to Asylum Seekers
• Fully Phases in Foundation Aid, A $24 Billion Commitment to Education that Includes $125 Million for Pre-K, and $250 Million for Learning Loss Tutoring

During her budget announcement, the governor told New Yorker’s that despite this spending and the possibility of heading into a recession, their income taxes won’t be going up.

Below is Hochul’s entire presentation.  The full proposal can be read here.