New York Governor Kathy Hochul unveiled the framework of a $237 billion budget that encompasses various initiatives aimed at driving new housing construction, addressing migrant influx, and cracking down on illegal marijuana shops. The budget, which is approximately two weeks behind schedule, was outlined as a 'conceptual agreement' following negotiations with state Senate and Assembly leaders.
During a press briefing at the Capitol, Governor Hochul emphasized the importance of reaching consensus before presenting the budget to the legislature for consideration. While the announcement took some lawmakers by surprise, discussions are ongoing to finalize the specifics of the spending plan.
The proposed housing deal includes a new tax incentive for developers to encourage construction, along with tenant protections to prevent unjust rent hikes and evictions in certain circumstances. Additionally, plans involve utilizing commercial properties and state lands for residential housing to address the need for more affordable homes.
A key focus of the budget is allocating $2.4 billion to assist the influx of migrants overwhelming New York City's homeless shelters. Governor Hochul's proposal includes provisions for short-term shelter services, legal aid, and other support for migrants in need.
Furthermore, the budget outlines a strategy to combat the proliferation of unlicensed marijuana storefronts in the city following the legalization of recreational cannabis sales in the state. The proposed measures aim to empower local authorities to take action against black market shops operating illegally.
