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.
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.
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”
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”
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.
With the federal shutdown entering its thirtieth day, it is now expected that federal funding for SNAP benefits (food stamps) will run out at the end of October. This morning, Governor Hochul announced an additional $65 million in funding for charitable food assistance, bringing overall state funding for emergency food assistance to $106 million. We commend the governor for her efforts to keep New Yorkers fed while the federal government gambles with human lives. The best way to ensure that the forty-two [...]
With the federal shutdown entering its 24th day, it is now expected that federal funding for SNAP benefits (food stamps) will run out by the end of October. The 3 million New Yorkers (including 1 million children) who rely on SNAP for food security will collectively lose the $700 million per month that they receive in benefits, triggering an immediate hunger crisis throughout the state. This morning, Governor Hochul proposed a meager $11 million plan to support food banks statewide in order to mitigate the [...]
Republican demand to cut premium tax credits will spike New Yorkers' healthcare costs.
The OBBBA spending cuts are concentrated in Medicaid and food stamps (SNAP), with devastating effects for New Yorkers. The bill will cost the New York State government $15.4 billion annually and kick 1.5 million New Yorkers off their health insurance, more than doubling the statewide uninsured population.
Budget agreement includes serious fiscal missteps that will undermine the State’s ability to weather federal funding cuts