Hochul Releases 2026 New York State Budget Proposal
By: Joseph T. Burns
Gov. Kathy Hochul today released her proposal for the New York State budget. Included in Hochul’s $252 billion budget proposal are:
- New restrictions on student cell phone use in school, including $13 million to assist school districts with enforcing the restrictions;
- A $1.7 billion increase in school aid, bringing state expenditures on school aid to $37.4 billion under Hochul’s proposal;
- An extension of the “millionaires’ tax” through 2032 (the tax was first imposed in 2021 and scheduled to expire in 2027);
- A $1,000 child tax credit in 2025 and a $500 child tax credit for kids aged 4-16 in 2026.
Hochul’s budget proposal is approximately $19 billion larger than last year’s proposal and approximately $36 billion larger than the first budget she proposed after becoming Governor.
While New York’s state budget is required to be adopted annually by April 1, the state legislature and Governor have often missed this deadline.
We will monitor how negotiations over the state budget proceed and provide updates when appropriate.
