Hochul’s budget ‘victory’ leaves New York trapped in a downward spiral
New York Governor Kathy Hochul's recent budget plan is criticized for exacerbating the state's financial issues. The $268.5 billion budget increases spending without addressing the state's significant tax burden or cash shortfall. Critics argue that the plan prioritizes political support over fiscal responsibility, potentially harming future taxpayers.
- ▪Hochul's budget increases spending by $14.5 billion, or 5.4%.
- ▪The budget includes new taxes, such as a surcharge on New York City pieds-à-terre valued at $1 million.
- ▪The deal allows New York City to defer billions in pension-fund payments, increasing future liabilities.
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Opinion editorial Hochul’s budget ‘victory’ leaves New York trapped in a downward spiral By Post Editorial Board Published May 29, 2026, 6:18 p.m. ET New York Gov. Kathy Hochul's $268.5 billion budget plan will make life worse. Andrew Schwartz / SplashNews.com See more of our coverage in your search results. Add The New York Post on Google Gov. Kathy Hochul set modest goals — some OK, some bad — for her budget this year, and eventually achieved most of them, but the bottom line leaves New York still solidly on track for continued decline. That is: She didn’t even try to alter a course she herself has said harms all of us. Without question, her monster $268.5 billion tax-and-spend deal with the Legislature on balance will make life in New York worse.
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