New York Gov. Kathy Hochul and legislative leaders are set to announce a preliminary state budget agreement Monday.
The roughly $237 billion spending package includes a landmark deal meant to massively ramp up housing supply in the state along with wins for Hochul in her effort to clamp down on school and Medicaid funding.
The conceptual agreement between Hochul, Assembly Speaker Carl Heastie (D-Bronx) and Senate Majority Leader Andrea Stewart Cousins (D-Westchester) was put before lawmakers at large Monday with the plan appearing to have enough support to move forward.
Hochul is expected to announce the preliminary agreement Monday afternoon, signaling that broad agreement on policy and funding provisions are locked-in, with technical details left to be ironed out over the next few days. Barring a major breakdown in negotiations, the governor could be expected to sign the budget into effect by the end of the week.
Hochul, Heastie and Stewart-Cousins had floated an earlier version of a massive housing deal on Friday, though lawmakers posed significant issues with the agreement – particularly surrounding provisions involving “Good Cause Eviction” tenant protections and rent stabilized apartment upgrades.
The deal is not expected to include new taxes, a line Gov. Kathy Hochul held despite calls from both houses of the legislature to make millionaires pay more. Those calls were particularly easy to rebuff, with updated revenue projections padding the budget with another nearly $1.3 billion during the middle of talks.
Hochul and the legislature had little debate, sources say, of her inclusion of an additional $2.4 billion to support New York City as it grapples with thousands of migrants, despite pushback from Adams who had asked Albany to chip in more.
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