New York Governor Kathy Hochul is bracing for a long and contentious 10-week battle over key elements of her $260 billion spending plan. While her administration argues that better-than-expected tax revenue from Wall Street bonuses provides sufficient funds to boost school funding, child care programs, and Medicaid, allies in those areas are expressing skepticism.
Despite polls indicating broad support among New Yorkers for taxing the rich to fund these social services, Hochul's team faces resistance from millionaire advocates who warn against further tax hikes. The Fiscal Policy Institute notes that a recent surge in millionaires in New York has not led to an exodus of high-net-worth individuals; in fact, their proportion of the state's population decreased over the past 15 years.
Hochul's office counters by citing $17 billion in projected revenue over the next two years, generated partly from a small tax cut for middle-class filers that took effect January 1. However, critics argue this does not address underlying issues driving high utility bills and car insurance costs, which are expected to fuel a fight in the budget.
Another contentious issue is Hochul's proposal for 25-foot protest-free buffer zones around houses of worship. Civil liberties groups, including the New York Civil Liberties Union, have expressed concerns about First Amendment implications, as these zones could be used to single out protesters. The governor's office counters that such buffers are necessary to combat antisemitism and harassment at places of worship.
Car insurance changes also pose a challenge, with trial lawyers arguing that Hochul's proposed tightening of the definition of serious physical injury would unfairly burden injured individuals seeking compensation. Insurers counter that their own role in driving up premiums through fraud and abuse needs to be addressed.
As state lawmakers prepare for budget negotiations, they must navigate a crowded legislative agenda and tight deadlines – a schedule that has proven challenging in recent years. Hochul's office acknowledges the timeline is often rushed, citing two-week lags between presenting proposals and receiving counter-proposals from the Legislature. This year, lawmakers may be more optimistic about finding common ground, as Senator Liz Krueger suggests few major roadblocks are expected.
Despite polls indicating broad support among New Yorkers for taxing the rich to fund these social services, Hochul's team faces resistance from millionaire advocates who warn against further tax hikes. The Fiscal Policy Institute notes that a recent surge in millionaires in New York has not led to an exodus of high-net-worth individuals; in fact, their proportion of the state's population decreased over the past 15 years.
Hochul's office counters by citing $17 billion in projected revenue over the next two years, generated partly from a small tax cut for middle-class filers that took effect January 1. However, critics argue this does not address underlying issues driving high utility bills and car insurance costs, which are expected to fuel a fight in the budget.
Another contentious issue is Hochul's proposal for 25-foot protest-free buffer zones around houses of worship. Civil liberties groups, including the New York Civil Liberties Union, have expressed concerns about First Amendment implications, as these zones could be used to single out protesters. The governor's office counters that such buffers are necessary to combat antisemitism and harassment at places of worship.
Car insurance changes also pose a challenge, with trial lawyers arguing that Hochul's proposed tightening of the definition of serious physical injury would unfairly burden injured individuals seeking compensation. Insurers counter that their own role in driving up premiums through fraud and abuse needs to be addressed.
As state lawmakers prepare for budget negotiations, they must navigate a crowded legislative agenda and tight deadlines – a schedule that has proven challenging in recent years. Hochul's office acknowledges the timeline is often rushed, citing two-week lags between presenting proposals and receiving counter-proposals from the Legislature. This year, lawmakers may be more optimistic about finding common ground, as Senator Liz Krueger suggests few major roadblocks are expected.
. Like, come on, you made all that cash from Wall Street, now give some back to the community. And don't even get me started on these millionaire advocates who claim there's an exodus of high-net-worth individuals in NY - yeah right! 
They're just trying to save face. I mean, have you seen the budget? It's a joke. Boosting school funding and child care programs is exactly what we need, not more tax breaks for the wealthy. And another thing, what's with these protest-free buffer zones around houses of worship? Is this some kind of slippery slope? Don't they know that free speech is key to a healthy democracy? 
. I don't think taxing the rich is necessarily the answer, especially if millionaires aren't exactly fleeing NY in droves 
The Fiscal Policy Institute's stats on high-net-worth individuals leaving the state don't exactly add up 
The proposed 25-foot protest-free buffer zones around houses of worship are a concern for me too 
But at the same time, I get why the governor's office wants to protect places of worship from harassment and antisemitism. Can we find a way to balance free speech with safety? 
️. Like, Kathy Hochul's got some solid points, but her team needs to get real about the millionaires being all like "no tax hike for us, thx" 
. The data shows that high-net-worth folks aren't fleeing the state; they're actually becoming a smaller part of it 
. And let's be real, $17 billion in projected revenue from middle-class filers doesn't exactly blow my mind 
. Can we get some actual progress on that? 
. I mean, we've seen how some of them just move to other states when they want to avoid paying taxes. But no, they stay and then get upset when others try to close the gap 
.
. I get it, we don't want hate crimes or harassment, but shouldn't there be a way to address those issues without restricting people's right to protest? It just seems so... arbitrary 
.
she's got a tough road ahead of her but i'm rooting for her 
i think taxing the rich is a great idea and it's about time we start taking care of our schools and child care programs 
let's hope they can find some common ground with those millionaire advocates 
. Also, I'm not buying the whole "millionaires aren't leaving NY" narrative 
i mean we all pay our share and some people make bank so its only fair to chip in a lil more 
meanwhile Hochul's team is all like "omg we got enough money from those fancy bonuses" 
. Senator Liz Krueger seems to think that lawmakers can find some compromise on some of these issues, which is definitely what we need right now 
. But it'll still be an uphill battle, and I'm keeping my fingers crossed that they can all work together without too much drama 
. Trial lawyers saying that Hochul's proposals would unfairly burden injured individuals seeking compensation is totally valid, but at the same time, insurers need to take responsibility for driving up premiums through fraud and abuse 
. Maybe Senator Liz Krueger's optimism about finding common ground will actually pay off this year? Fingers crossed 
. I mean, $260 billion is a serious amount of cash, but if it's not implemented right, people are gonna be all up in arms about how they're getting screwed 
.
️. And what's up with those 25-foot protest-free buffer zones? It sounds like an attempt to suppress free speech 
I mean, come on, they're making bank and expecting everyone else to chip in? No way. The governor's got a good plan to fund schools and childcare, let alone healthcare for low-income families. And don't even get me started on the millionaires who think tax cuts are more important than people's lives. 