Historic Investments in the People of New York
The $237 billion enacted budget delivers on Governor Hochul’s promise to take on the tough issues and deliver results for New Yorkers. It includes record investments in the people of New York without raising income taxes, with hundreds of new initiatives that will help fight crime, fix our mental health system, and build more housing so that people can afford to live and thrive in New York.
| Fiscal Responsibility |
|---|
| No income tax increases |
| Reserves at 15% |
| Housing |
|---|
| 485-x incentive |
| Extend 421-a |
| Office conversions |
| Lift FAR 12 cap |
| Unlock vacant units |
| Anti-price gouging |
| Statewide incentives |
| Pro-Housing communities |
| Build on State-owned sites |
| Stop deed theft |
| Public Safety |
|---|
| Retail theft |
| Unlicensed cannabis |
| Sammy’s Law |
| Gun violence |
| Hate Crimes |
| Domestic Violence |
| Ghost Cars |
| Education |
|---|
| Back to Basics reading |
| Record School Aid |
| Update funding formula |
| TAP increases |
| Mayoral control |
| Mental Health |
|---|
| School-based clinics |
| 200 new inpatient beds |
| Mental health courts |
| Healthcare |
|---|
| Modernize hospitals |
| Pre-natal leave |
| Maternal care |
| Medicaid funding |
| NY SWIMS |
| Reduce costs |
| Cost of Living |
|---|
| Ban insulin co-pays |
| Medical debt protections |
| Property tax relief |
| Sustainaibility |
|---|
| 25 million trees |
| Clean Water |
| Innovation |
|---|
| Empire AI |
| ON-RAMP |
This Budget is a blueprint for a safer, more affordable, more livable New York.
Governor Hochul Highlights Achievements of the FY 2025 Budget
Tackling the Housing Crisis & Reducing the Cost of Housing
The Budget enacts a historic plan to increase housing supply, promote affordability, strengthen protections, & combat discrimination.
Fighting Crime and Keeping New Yorkers Safe
Governor Hochul is taking action to combat organized retail theft & hate crimes, & to curb gun crime & domestic violence.
Supporting Students and Schools
Building on record funding, the Budget helps improve reading skills & puts us on a path to a more equitable school funding formula.
Supporting New York's Health Care System
The Budget includes record funding to keep NYers healthy & nation-leading action to support those who are pregnant or have diabetes.
Mental Health Investments for All New Yorkers
Governor Hochul is tackling the youth mental health crisis, expanding services for severe mental illness, & improving insurance coverage.
Making New York a Global Leader in Artificial Intelligence
The Budget launches Empire AI, a nation-leading consortium that will advance AI for the public good & help launch new businesses.
New Initiatives to Shut Down Illicit Cannabis Operations
Governor Hochul is protecting legal cannabis entrepreneurs by taking action to help shutter illicit storefronts.
Transforming New York’s Economy and Workforce
The Budget includes major, one-of-a-kind investments that will help businesses & workers continue to thrive.
Accelerating the Clean Energy Transition and Investing in Ag
Governor Hochul is helping New York achieve its bold clean energy goals, improve climate resiliency & support our farmers.