Affordability, Progress, and Prosperity: Senate Passes FY 2023-24 Budget

The New York State Senate passed the Fiscal Year 2023-2024 New York State Budget. The $229 billion spending plan fully funds public schools, sets the lowest middle-class personal income tax rate in over 70 years, and spurs economic development. The approved budget continues the Senate Majority’s efforts to combat climate change. It invests in mental health while improving healthcare access. It expands the Child Tax Credit, bolsters affordable childcare, and provides free school lunches throughout New York State. Additionally, the budget increases wages for working New Yorkers and further invests in housing for renters and homeowners while enhancing public safety, justice, and equity across New York State.

Senate Majority Leader Andrea Stewart-Cousins said, “Budgets are moral documents that allow us to clearly put forward our priorities for the state of New York. This year our mission was to forge a more affordable state for all New Yorkers, one that worked to open doors and opportunities, not close them. We believe that in order to create a better state we need to pull from the bottom rung up and I am proud of this budget and the affordability, prosperity and progress we will be able to offer all New Yorkers. I want to thank Governor Hochul and Speaker Heastie for working with me to pass a transformative budget that works for all.”

Senate Deputy Leader Michael Gianaris said, “I am proud the State Senate demonstrated its fortitude by minimizing the harm from bad policy proposals - including by rejecting tuition hikes for SUNY and CUNY - and by fighting for greater opportunities for New Yorkers, delivering the nation-leading Build Public Renewables Act, expanding the child tax credit, and righting the fiscal ship of the MTA while piloting free bus routes in the five boroughs.”

Senate Finance Chair Liz Krueger said, “I am proud to be part of this Senate Majority that has stood strong during the budget process to ensure we can deliver real victories for the people of New York. This budget increases equity, affordability, and quality of life for all New Yorkers through historic education funding, and investments in transportation and healthcare services, both for patients and those working to provide care. It focuses on New York families through investments in childcare and expansion of the Child Tax Credit, as well as increasing protections for New Yorkers seeking abortion care. It makes our tax system fairer, ensures our cannabis laws can be properly enforced, and, critically, retains New York’s position as a leader in confronting the climate crisis through historic steps to implement the CLCPA. There is always more work to be done and compromises that have to be made, but this is a budget that provides a solid foundation to continue building a better future for our state and our people.”

Read the Senate Majority Release.

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35th Senate District

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