Statement on Federal Approval to Shrink the Essential Plan
“Now that Governor Hochul’s request to shrink the Essential Plan has received federal approval, half a million New Yorkers are four months away from losing their health insurance."
The Legislature Proposes Ambitious, Progressive New Revenue
Private health insurance costs in New York have risen dramatically over the past three decades, far outpacing wage growth and inflation. New analysis reveals that unchecked healthcare cost growth has become a major driver of economic inequality and labor market instability across New York.
Statement on the FY 2027 One-House Budgets
Following the release of the State Senate and Assembly one-house budgets for fiscal year 2027, Fiscal Policy Institute Acting Director and Chief Economist Dr. Emily Eisner today released the following statement.
New York City’s Fiscal Challenge
Mayor Mamdani’s allegations of prior fiscal mismanagement are substantiated by data showing a significant increase in underbudgeting of spending during the Adams administration.
Annual Briefing on the Executive Budget — 2026
FPI released its annual report on the executive budget for Fiscal Year 2027
FPI Annual Budget Briefing: Fiscal Year 2027 Executive Budget (Virtual)
A recording of FPI's First Look briefing about Executive Budget FY 2027, delivered on January 22, 2026.
Statement on NYC’s Preliminary Budget: Progressive Taxes and Increased State Aid are Best Solutions to City Budget Challenges
Growth in the City’s budget should be seen as a necessary expense for sustaining one of the greatest cities in the world, not as fiscal recklessness, and the State ought to do its part to help the City manage this crisis.
Regional Impacts of the July 2026 Essential Plan Cliff
Unless the legislature takes action, New York will see the most rapid loss of healthcare coverage in its history.
FPI Statement on City Budget Crisis: It’s Time to Raise City Taxes
Governor Hochul's Executive Budget includes commitment to partnering with Mayor Mamdani in pursuing universal childcare and acknowledgement of the State's strong fiscal condition. But it shows no plan to prevent the twin crises that will result from federal funding cuts under the so-called “One Big Beautiful Bill Act”
FPI Briefing: First Look at the Executive Budget FY 2027
A recording of FPI's First Look briefing about Executive Budget FY 2027, delivered on January 22, 2026.
FPI Statement on the FY 2027 Executive Budget
Governor Hochul's Executive Budget includes commitment to partnering with Mayor Mamdani in pursuing universal childcare and acknowledgement of the State's strong fiscal condition. But it shows no plan to prevent the twin crises that will result from federal funding cuts under the so-called “One Big Beautiful Bill Act”
FPI Briefing: Response to State of the State FY 2027
A recording of FPI's briefing in response to the State of the State FY 2027, delivered on January 15, 2026.
Statement on the FY 2027 State of the State
On January 13, Governor Hochul delivered her annual address on the State of the State for Fiscal Year 2027. Her address centered affordability in New York, putting forward a flagship new deal with New York City to expand universal childcare statewide. However, the Governor’s speech has a glaring omission: the impact of Federal cuts on health insurance for up to one million New Yorkers.
Before the State of the State: New York’s Fiscal Outlook and Millionaire Tax Breaks
On January 13, Governor Hochul will deliver the State of the State speech, which is expected to address matters of affordability in New York and the State’s relationship with the federal government. FPI here releases summaries of two previous publications on the State’s fiscal outlook and the tax breaks that New York’s millionaire earners will receive from the federal government this year.
What to Expect in Tomorrow’s State of the State?
The State’s ability to pursue bold policy initiatives will depend on its fiscal outlook, which faces serious challenges in the coming years due to federal funding cuts. These are the issues to look out for in Governor Hochul's address.