This year’s Executive and one-house budgets reflect a clear policy choice: Both the Governor and the legislature prioritize provider rate increases over protecting New Yorkers’ health insurance coverage.
“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."
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.
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.
Mayor Mamdani’s allegations of prior fiscal mismanagement are substantiated by data showing a significant increase in underbudgeting of spending during the Adams administration.
FPI released its annual report on the executive budget for Fiscal Year 2027
A recording of FPI's First Look briefing about Executive Budget FY 2027, delivered on January 22, 2026.
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.
Unless the legislature takes action, New York will see the most rapid loss of healthcare coverage in its history.
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”
A recording of FPI's First Look briefing about Executive Budget FY 2027, delivered on January 22, 2026.
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”
A recording of FPI's briefing in response to the State of the State FY 2027, delivered on January 15, 2026.
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.
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.