Current:Home > StocksHochul announces budget outline as lawmakers continue to hash out details -TradeWisdom
Hochul announces budget outline as lawmakers continue to hash out details
View
Date:2025-04-15 00:03:14
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! (7788)
Related
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- Mom of Texas teen murdered in 2001 says killer's execution will be 'joyful occasion'
- 2024 Euros: 'Own goals' lead scorers in group stage
- Kansas official hopeful that fire crews can control a blaze at a recycling center
- Bill Belichick's salary at North Carolina: School releases football coach's contract details
- Illinois man accused in mass shooting at Fourth of July parade expected to change not-guilty plea
- Faster ice sheet melting could bring more coastal flooding sooner
- Tori Spelling Reveals She Once Got a Boob Job at a Local Strip Mall
- 'Vanderpump Rules' star DJ James Kennedy arrested on domestic violence charges
- Star witness in Holly Bobo murder trial gets 19 years in federal prison in unrelated case
Ranking
- New Mexico governor seeks funding to recycle fracking water, expand preschool, treat mental health
- Alec Baldwin attorneys say FBI testing damaged gun that killed cinematographer; claim evidence destroyed
- Jury awards $700k to Seattle protesters jailed for writing anti-police slogans in chalk on barricade
- Why are the Texas Rangers the only MLB team without a Pride Night?
- Taylor Swift Eras Archive site launches on singer's 35th birthday. What is it?
- US court says Smith & Wesson must comply with New Jersey subpoena in deceptive advertising probe
- These Swifties went viral for recreating Taylor Swift's album covers. Now they're giving back.
- Enough signatures collected to force recall election for Wisconsin GOP leader, commission says
Recommendation
Meta donates $1 million to Trump’s inauguration fund
Can Panthers, Oilers keep their teams together? Plenty of contracts are expiring.
Rodeo Star Spencer Wright Remembers Late Son Levi, 3, at Heartbreaking Funeral Service
Boy dies after being found unresponsive in shallow pool at New Jersey day camp: Officials
Skins Game to make return to Thanksgiving week with a modern look
Florida man kills mother and 2 other women before dying in gunfight with deputies, sheriff says
Where Todd Chrisley's Appeal Stands After Julie's Overturned Prison Sentence
Justin Timberlake Shares First Social Media Post Since DWI Arrest