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.
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.