New York has long been the place of endless opportunity, where people from around the country come to pursue their dreams and start a family. Unfortunately, after several years of sustained inflation, the cost of necessities is straining the wallets of many New Yorkers. For many families, securing childcare, buying groceries and finding an affordable home is becoming too difficult.

In her State of the State address, Governor Kathy Hochul identified many proposals that would help reduce the costs of living and doing business in New York. As we start a new legislative session, I’m focused on passing legislation to ease the burden on taxpayers, make higher education more affordable and reduce the cost of housing.

To keep money in the pockets of hard-working New Yorkers, we must work with our federal partners to repeal the state and local tax (SALT) deduction cap so families are not taxed twice on the same income. Additionally, the Governor has proposed and I support an expansion of the Child Tax Credit, increasing the maximum credit from $300 to $1000 for children up to age 4, and to $500 for school-aged children. Research has shown that the Child Tax Credit goes a long way in reducing the incidence of child poverty in New York.

To lend strong support to our communities, we fully funded Foundation Aid to schools, thus easing the burden on local communities while delivering schools the resources they need to prepare our young people for the future. The Governor proposed and I support expanding our state’s free school lunch program to all students and providing tax relief to middle-class families so they can decide how best to use their money.

Supporting our students will always be at the forefront for me. We must continue investing in SUNY schools and freezing tuition for state residents. Higher education is essential for students to succeed, and affordability should never be a barrier to bright young minds pursuing their passions. That’s why I worked to put college within reach for all students by significantly expanding TAP eligibility for full- and part-time students, making college more accessible than ever before. In the State of the State, the Governor proposed a free community college education to students in high need fields. I look forward to further detail on this proposal in the Executive Budget.

The rising cost of housing is another issue many families are dealing with. To reduce housing costs, we funded affordable housing options and increased housing construction through tax incentives to builders. To provide renters with greater security, we implemented tenant protections for municipalities across the state. Finally, to make owning a home more affordable, we offered down payment and closing cost support to low- and middle-income families. Despite these efforts, it is still difficult for many New Yorkers to become homeowners, with competition in the housing market driven by private equity firms. In the State of the State, the Governor

proposed banning private equity firms from bidding on houses during the first 75 days of a listing. I support this proposal and look forward to working to ensure it becomes part of the 2025 budget.

There is still more to do to ensure New Yorkers can live comfortably and that no family is forced to choose between paying for essentials or paying their rent. I will continue advocating for our communities during this legislative session to help ensure that all New Yorkers can prosper together. If you have any questions about these or any other issues of community interest, feel free to reach out to my office at McMahonk@nyassembly.gov or (716) 634-1895.