Governor Hochul held a press conference to announce that a conceptual agreement has been reached with legislative leaders regarding the Fiscal Year 2024 New York State Budget. The Governor presented a framework of the budget, which can be watched here. The Governor discussed priorities from her initial budget proposal that she expects will remain, be amended or omitted from the final budget. Of note, both Assembly Speaker Carl Heastie and Senate Majority Leader Andrea Stewart-Cousins were not in attendance during this press conference.
Highlights of the framework of the budget include the following:
- Improving public safety;
- Investing $1 billion in mental health;
- Creating a stronger health care system;
- Providing record funding for P-12 schools and higher education;
- Implementing new comprehensive programs to ensure high-quality and affordable child care;
- Increasing minimum wage;
- Supporting tenants, including residents of public and subsidized housing with rental arrears;
- Generating additional revenue for the Metropolitan Transportation Authority (MTA);
- Combating climate change and investing in energy affordability;
- Building infrastructure and capital projects across the state;
- Supporting New Yorkers with disabilities;
- Expanding access and boosting demand for New York food and products;
- Expanding the enforcement powers of the Office of Cannabis Management and Department of Taxation and Finance to further grow the legal marketplace for cannabis; and
- Supporting New York Seniors.
More information on the highlights above can be found in the Governor’s announcement here.
While an agreement was announced, the Governor stated that other items will have to be worked out over the weekend. Assembly Speaker Carl Heastie spoke with reporters to confirm the conceptual agreement while noting that some issues still need to be discussed with members of his conference. Currently, Senate Majority Leader Andrea Stewart-Cousins has not issued a formal statement regarding the Governor’s announcement.
Both Houses of the Legislature adjourned session on Wednesday at the call of their respective leaders.
Fifth Budget Extender Expiration
Earlier this week, the Legislature passed a fifth budget extender, which expires today. However, according to State Comptroller Tom DiNapoli, to avoid any possible disruptions regarding the May 4th Institutional Payroll for state employees, a budget or budget extender must be passed by noon on Tuesday, May 2nd.
