Current:Home > StocksHochul announces budget outline as lawmakers continue to hash out details -TrueNorth Finance Path
Hochul announces budget outline as lawmakers continue to hash out details
View
Date:2025-04-12 08:19:57
ALBANY, N.Y. (AP) — New York Gov. Kathy Hochul on Monday announced the framework of a $237 billion budget that includes broad plans to drive new housing construction, address the influx of migrants and crack down on illegal marijuana shops.
Hochul, a Democrat, described the announcement as the “parameters of a conceptual agreement” on the budget, which is about two weeks late, that was struck with leaders of the state Senate and Assembly after a series of backroom negotiations.
“You can’t get to the legislature for consideration unless we have agreement on the package to go forth,” Hochul told reporters at the Capitol, adding, “It takes a little time to get to the final resolution but I’ve explained what I feel there’s agreement on.”
Still, the governor’s announcement appeared to have caught lawmakers off guard, with officials still in the process of holding meetings and working out the specifics of the spending plan.
“I think it was a surprise for all of us in the Senate,” said state Sen. Liz Krueger, a high-ranking Democrat.
The Senate and Assembly, both controlled by Democrats, would need to approve the budget before it could become law.
The housing deal outlined by Hochul would include a new tax break for developers to incentivize building and a set of tenant protections to make it harder to raise rents and evict people in certain cases, though specifics were not detailed. It also includes plans to use commercial properties and state lands for residential housing.
The sweeping housing agreement had become a sticking point in negotiations, with top officials moving to craft a deal that leads to more new, affordable homes while protecting tenants and luring developers to build.
The spending plan would also set aside $2.4 billion for the state to address numerous migrants who have overwhelmed New York City’s homeless shelters, following a proposal from Hochul to provide short-term shelter services, legal assistance and more.
And Hochul said there was an agreement on a new strategy to combat unlicensed marijuana storefronts, which have become ubiquitous in the city following the state’s legalization of recreational weed sales, through a proposal to make it easier for local authorities to close the black market shops.
veryGood! (46)
Related
- Friday the 13th luck? 13 past Mega Millions jackpot wins in December. See top 10 lottery prizes
- Willem Dafoe's 'naturally fly' Prada and Woolrich fit has the internet swooning
- Lenny Kravitz Shares Insight Into Bond With Daughter Zoë Kravitz's Fiancé Channing Tatum
- About 70 dogs killed after 'puppy mill' bursts into flames in Ohio, reports say
- Tree trimmer dead after getting caught in wood chipper at Florida town hall
- Crews battle scores of wildfires in Virginia, including a blaze in Shenandoah National Park
- Texas immigration ruling puts spotlight on nation’s most conservative federal appeals court
- U.S. hits Apple with landmark antitrust suit, accusing tech giant of stifling competition
- Trump wants to turn the clock on daylight saving time
- ‘Every shot matters to someone.’ Basketball fans revel in, and bet on, March Madness tournament
Ranking
- Nearly half of US teens are online ‘constantly,’ Pew report finds
- Tyler Kolek is set to return from oblique injury for No. 2 seed Marquette in NCAA Tournament
- Lawmakers unveil $1.2 trillion funding package, kicking off sprint to avoid government shutdown
- Texas immigration ruling puts spotlight on nation’s most conservative federal appeals court
- Scoot flight from Singapore to Wuhan turns back after 'technical issue' detected
- Telescope images capture galaxies far far away: See photos
- Butter statues, 6-on-6, packed gyms: Iowa loved women's hoops long before Caitlin Clark
- Power Five programs seeing increase of Black men's and women's basketball head coaches
Recommendation
What to watch: O Jolie night
Keep Your Car Clean and Organized With These 14 Amazon Big Spring Sale Deals
Capitals' Tom Wilson faces sixth NHL suspension after forcefully high-sticking opponent
Sister Wives' Christine Brown Shares Emotional Message on Moving Forward After Garrison's Death
This was the average Social Security benefit in 2004, and here's what it is now
Virginia Tech standout Elizabeth Kitley to miss NCAA women's tournament with knee injury
Megan Fox Clarifies Which Plastic Surgery Procedures She's Had Done
NC State riding big man DJ Burns on its unlikely NCAA Tournament run this March Madness