State lawmakers are set to miss their budget deadline on Tuesday, and the bottom line is sure to be bloated, but… some Good may come out of it – if Gov. Kathy Hochul stands firm.
The government has proposed a massive $263 billion spending plan for next year, up 4.5% from last year, including a very reckless 10% increase for Medicaid.
Spending-happy lawmakers in the Assembly want to add $3 billion on top of that, and state senators 10 billion dollars – And both chambers will slap New Yorkers with steep new tax increases.
(They can’t bankrupt the country fast enough.)
However, Hochul is running for re-election on a promise to improve “affordability.” She has pledged to block the income and corporate tax increases being pushed by Mayor Zahran Mamdani and left-wing lawmakers.
It would even end the state tax on tips, which is identical to what President Donald Trump’s big, nice bill did for federal taxes.
However, the government has given up on key issues in recent years; Who knows if she’ll keep the streak now?
How pathetic, and tragic, if you give up on raising taxes.
Or abandon its quest to lower car insurance rates by curbing violations: it wants to crack down on criminals who cause traffic accidents; Maximum payments for drivers who commit crimes during an accident; Limit what could be described as a “serious injury” to avoid paying large sums for minor injuries, among other repairs.
Unfortunately, Bruce Blakeman, the Republican gubernatorial candidate, supports the trial lawyers and opposes Hochul’s plan — pretending that it is somehow a boon to Uber rather than a boon to all motorists.
The government also acknowledges (some of) the reality regarding the state’s climate law — namely, that it drives up costs for New Yorkers and makes the state’s power grid unreliable.
Her requests here are (largely) modest: postpone crazy emissions-cutting deadlines, and change the way carbon dioxide is calculated.2 Output for compatibility with almost all other countries.
Finally, Hochul wants to cut down on (some of) the unnecessary bureaucracy related to environmental review to incentivize more housing — which the country desperately needs.
This is all well and good, albeit in small steps, but again: Will you stick with it through tough budget talks?
Another risk: Hochul hinted at rolling back savings from retirement plans for Tier 6 government workers (i.e., those who started after April 1, 20120).
This is crazy: The state is desperate for cash, but such a decline would cost taxpayers $700 million a year, leading to higher property taxes – simply to improve benefits for public sector employees who already have better plans than private sector workers.
As the budget approaches overtime, key questions remain: How much pain can the audience endure, and can Hoochul deliver? any Relief at all for the people of New York?