John,

BIG NEWS.

We've come to a conceptual agreement on the 2025 Fiscal Year Budget — and it is going to change millions of New Yorkers’ lives for the better.

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In my State of the State address, I said we would fight the right fights, deliver common-sense solutions, and put New York on a sustainable course for the future.

And I’m proud to say: We got it done.

Our budget cracks down on persistent crime, revolutionizes our mental health care system, invests in children and families, builds more housing so people can afford to live in New York, protects taxpayer dollars, and creates the economy of the future in every corner of our state.

Here’s a first look at the breakdown. This budget:

✅ Tackles the housing crisis with new incentives and investments to build housing across the state and actions to unlock New York City’s housing potential, including lifting outdated density restrictions and encouraging office conversions, all while protecting tenants from price gouging and safeguarding against deed theft.

✅ Makes our state safer by investing more than $347 million for gun violence prevention, combatting domestic violence and hate crimes, and increasing penalties for organized retail theft.

✅ Cracks down onillegal cannabis shops that sell untested products and undermine our legal business owners.

✅ Invests in New York’s kids and educators by committing a record $35.9 billion to our schools while investing in science-backed strategies to help more New York kids learn to read through our Back to Basics initiative.

✅ Supports patients and our entire health care system by providing a historic $3 billion to support distressed hospitals and continuing our $20 billion multi-year investment to build new health care infrastructure, expand coverage for seniors and pregnant New Yorkers, and increase the minimum wage for home care workers.

✅ Combatsthe maternal and infant mortality crisis by making New York the first state in the nation to offer paid prenatal leave, protecting moms from unnecessary surgeries during childbirth that put them at risk, and more.

✅ Ensures all New Yorkers can get the mental health support they need by investing in, and expanding, school-based mental health clinics and helping New Yorkers suffering from serious mental illness access the care they need.

✅ Puts money back in the pockets of New Yorkers by banning co-pays for insulin and helping New Yorkers combat medical debt.

✅ Launches Empire AI to make New York the first state in the nation to purchase artificial intelligence supercomputing power at scale and place it in the hands of our leading public academic institutions — driving new discoveries, building countless startups, and transforming lives for the better.

✅ Promotes the health of our communities by expanding recreational opportunities and reducing drowning deaths by teaching children to swim, and building on our efforts to achieve our nation-leading climate goals.

I believe with all my heart that New Yorkers are more powerful together than we ever would be on our own. And we saw that with this budget process. Yes, with spirited debate, but also almost unprecedented collaboration between me, the Majority Leader, the Speaker — and we proved that we can come together for the good of our state.

And we did —

So young families can finally buy that first home in a community they love.

So mom and pop retail shops can find peace of mind and focus on what they do best.

So expecting mothers can access the prenatal care they need and deserve as they prepare to bring new life into the world.

So seniors are never left to choose between life-saving insulin and paying their rent.

So every child can attend quality public schools where they're taught to read and put on a pathway to success.

Enacting our vision will make New York safer, more affordable, more livable, not just today, but tomorrow, and ensure that people across our state can still have optimism and hope that better days lie ahead.

And we’ll continue working, day in and day out, together, to build our New York, and our future.

Ever Upward,

Gov. Kathy Hochul

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Executive Chamber of Gov. Kathy Hochul - New York State Capitol Building, Albany, NY 12224, United States
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