The MTA was waiting on Albany to help fund the $33 billion gap in its $68.4 billion 2025-2029 capital plan, but Hochul left out any proposals to bridge the deficit in her $252 billion fiscal year 2026 executive budget proposal released Tuesday, essentially saying the MTA’s plan was too big to approve at this time.
The $252 billion proposal represents the largest spending plan of Hochul’s tenure and includes a pledge to modestly decrease the tax rate on households making under $323,200 a year. She has also proposed an expansion of a child tax credit for those with children under 4 years old.
New York is keeping secret its plan for new taxes and fees to fund $33 billion for the flailing Metropolitan Transportation Authority even as Gov. Kathy Hochul is set to propose her budget this week.
Kathy Hochul proposed a $252 billion budget on Tuesday that calls for extending a tax hike on millionaires and increasing spending on Medicaid. But her plan omits specifics about how she will work with lawmakers to shore up the finances of the Metropolitan Transportation Authority and declines to send the city any new funding for the migrant crisis.
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Gov. Hochul on Tuesday proposed a steep hike in state spending while leaving a lot of the details on funding to be worked out in negotiations with the state Legislature.Hochul’s
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Although there was over $9 billion allotted for various transportation initiatives, the $252 billion fiscal year 2026 executive budget did not mention any funds for the Metropolitan Transportation Authority's 2025-2029 capital plan.
New York is keeping secret its plan for new taxes and fees to fund $33 billion for the flailing Metropolitan Transportation Authority even as Gov. Kathy Hochul is set to propose her budget this week.