Inside New York's $268 billion budget, 57 days overdue
The plan funds schools, Medicaid, housing and clean energy while adding tax changes and policy measures after prolonged negotiations.
- On Thursday, Governor Kathy Hochul signed final spending bills for a more than $268 billion New York State budget for the 2026-27 fiscal year, 57 days past the April 1 deadline.
- Late Wednesday, lawmakers concluded the 10-bill process following extensive Article VII negotiations, which involve complex policy adjustments that often extend budget timelines beyond the April 1 target.
- The budget authorizes $39 billion in total school aid and invests $3 billion in childcare subsidies, while Tier 6 pension reforms allow teachers to retire at age 58 with 30 years of service.
- Democratic leaders framed the budget as a win for working families, while State Senate Minority Leader Rob Ortt and Republicans condemned the late delivery, with Ortt saying the agreement "does nothing to address the real affordability crisis."
- Businesses face a December 31, 2026, deadline to update sales tax certificates and clear outstanding debts under new penalty discount programs, even as officials warn of potential future budget gaps from increased spending.
10 Articles
10 Articles
What’s in the 2026 NY State Budget? Here’s What To Know.
It’s two months late, but it’s finally here: New York state’s $269 billion budget.The big story of this year’s budget was the face-off between Governor Kathy Hochul and New York City Mayor Zohran Mamdani, who made “tax the rich” a rallying cry of his campaign. Even as she stumped for Mamdani last fall, Hochul was adamant that she would not raise taxes on the wealthy. In the end, they split the baby. Mamdani didn’t get what he most wanted: a tax…
Inside New York's $268 billion budget, 57 days overdue
New York lawmakers finalized a $268.1 billion state budget for the 2026/2027 fiscal year, which includes increased spending on education, healthcare, and green infrastructure, as well as tax changes and fee adjustments.
Statement on the 2026 New York State Budget
While the Governor devoted $250 million in new capital resources to construct new housing, the budget provides only $20 million for preservation of existing subsidized housing. This despite a clear message from across the affordable housing community that we are facing a preservation crisis that puts low income tenants, community-based organizations, and buildings across the […]
Griffo statement on State Budget
“This budget, passed eight weeks late, fails to address New York’s critical issues of affordability, public safety, and economic concerns, doubles down on problematic sanctuary policies and restricts the rights of law-abiding New Yorkers. The governor and legislative majorities had a real opportunity to show New Yorkers that they are serious about addressing the high cost of living in our state by embracing meaningful, long-term relief – someth…
Governor Hochul's Budget Victory Is Great if You Don't Need Health Insurance or a Habitable Planet Earth
If budgets are "moral documents," what does it mean that the New York State budget, passed in the wee hours of Thursday morning, leaves 450,000 New Yorkers without health insurance coverage and severely delays the state's response to the climate crisis?Despite the $268.5 billion state budget being two months late, Governor Kathy Hochul should be happy, because this is basically the document she wanted, including changes to state laws that may lo…
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