“The governor’s mid-year budget report offers some early warning signs that Albany must heed for the FY 2025 state budget. It also reinforces what Assembly Minority has been saying for years: spend less. When Gov. Hochul submitted her first budget in January of 2022, New York enjoyed a $8.7 billion surplus. According to today’s mid-year report we now face a $4.3 billion deficit next year. Something has to change.

New York Majority pattern of runaway spending cannot continue. Our state budget increased nearly $60 billion in the last five years and $20 billion in the brief time Gov. Hochul has been in office. The root cause of New York’s current budget gap is no mystery.

While no one should be celebrating a $4.3 billion budget deficit, that number represents an improvement over previous projection. In order to get New York on stable financial ground, state Majority must try something completely contrary to their nature - responsible budgeting.”