Assembly Resolution No. 1034 - 2026-2027 Executive Budget Response and Assembly One-House Budget Resolution
The New York State Assembly advanced its One-House Budget Resolution (A10000-A and companion bills A10001-A10009-A) on March 12, with Chair Pretlow outlining a $266 billion spending plan emphasizing tax relief and social investments. The resolution proposes $10.8 billion in combined personal income tax relief, including one-time energy rebate checks of $500-$300 for residential consumers, a two-year utility rate freeze, and $2.1 billion in education funding. The budget includes $1.2 billion in healthcare investments, $750 million for affordable housing programs, and revenue proposals totaling $3.6 billion from corporate income tax increases on companies earning over $10 million, personal income tax rate increases for top earners, and a new crypto mining excise tax. Ranking Member Palmesano raised fiscal concerns, noting the budget represents 1.2% growth over the Governor's proposal and projects cumulative out-year deficits of $30.3 billion through 2030. He questioned whether tax increases on high earners and financial firms—amid evidence that one-third of New Yorkers are considering leaving the state—would prove counterproductive, and raised concerns about energy policy costs and workforce retention in corrections. No vote was taken during this segment.
Assembly Resolution No. 1034 - 2026-2027 Executive Budget Response and Assembly One-House Budget Resolution
The New York State Assembly advanced its One-House Budget Resolution for fiscal year 2026-2027, proposing $266 billion in all-funds spending (excluding $6 billion in Federal Medicaid reactivation) with major investments in education, healthcare, housing, and tax relief. Chair Pretlow highlighted $10.8 billion in combined personal income tax relief, including one-time energy rebate checks of $500-$300 for residential consumers, $2.1 billion in education funding, and $238 million to raise direct care worker wages. The budget includes revenue proposals totaling $3.6 billion through increased corporate and personal income taxes on top earners and a new crypto mining excise tax. However, Ranking Member Palmesano raised significant concerns about the budget's fiscal sustainability, noting cumulative out-year deficits of $30.3 billion and questioning whether tax increases on high earners and corporations—amid evidence of out-migration and financial sector flight—would undermine competitiveness. Palmesano also pressed on energy policy impacts, corrections workforce recruitment, and school bus electrification mandates. The resolution was advanced for further consideration.
Assembly Budget Resolution for State Fiscal Year 2025-2026 (in response to Executive Budget submission)
The New York State Assembly advanced its one-house budget resolution for fiscal year 2025-2026, proposing $256.5 billion in all-funds spending, $4.5 billion above Governor Hochul's executive proposal. The budget, presented by Ways and Means Committee Chair Pretlow, prioritizes tax relief for working and middle-class families through new tax credits totaling $1.1 billion when fully phased in, including the New York Works Tax Credit and LIFT Tax Credit. The proposal allocates $7 billion to resolve the state's Unemployment Insurance Trust Fund debt, providing relief to small businesses while raising unemployment benefits. The budget includes $2.7 billion in additional education funding, with changes to the Foundation Aid formula to benefit lower-income districts, and major investments in healthcare ($1 billion for capital needs), housing ($750 million for NYCHA and Mitchell-Lama programs), and human services ($575.7 million for direct care workforce raises). Revenue proposals include a corporate franchise tax increase for companies earning over $10 million (generating $1.6 billion in FY 2025-26) and a personal income tax increase for individuals earning over $5 million (generating $1.8 billion in FY 2025-26). Ranking Member Ra raised concerns about the budget's long-term sustainability, noting $38 billion in cumulative outyear deficits through 2029 despite the tax increases, and questioned the decision to draw $7 billion from reserve funds amid federal economic uncertainty. The debate continued with other members raising questions about specific provisions.
Legislative Resolution in response to the 2024-2025 Executive Budget submission to be adopted as legislation expressing the position of the New York State Assembly relating to the 2024-2025 New York State Budget
The New York State Assembly debated its 2024-2025 budget resolution (A948), with Chair Deborah Weinstein presenting a $245.8 billion all-funds spending plan that includes $2.3 billion in new revenue enhancements and significant investments across housing, education, healthcare, and child care. The budget raises the corporate franchise tax from 7.5% to 9% for businesses with taxable income exceeding $5 million and increases personal income tax rates on top earners. It allocates $250 million for housing vouchers, $1.8 billion for school aid restoration, and $3.1 billion for healthcare including a 3% Medicaid base increase. Ranking Member Ed Ra raised concerns about the budget's 6.1% spending growth, which exceeds the Assembly's historical 2% target, and questioned the state's heavy reliance on its wealthiest 1.6% of taxpayers for nearly half of personal income tax collections. Ra also highlighted New York's loss of 26,000 manufacturing jobs since 2011 while the nation gained 1.3 million, and expressed skepticism about the Medicaid Investment Fund's reliance on Federal approval of a managed care organization tax. Assemblymember Jensen raised concerns about the timing of Federal approval given the upcoming Presidential election. The debate continued at the time the transcript segment ended.
An act to amend the Election Law, in relation to the conducting of the Presidential primary, to provide for the election of delegates to a national party convention or a national party conference in 2024, and the 'Presidential' and 'June' primary in such year; and to make various other changes to Election Law regarding absentee ballots, write-in votes, and ballot recounts.
The Assembly passed A07690, sponsored by Asm. Heastie, which schedules New York's 2024 Presidential primary for April 2nd and enacts permanent changes to Election Law. The bill allows early voting during the ten days prior to Election Day, with adjusted hours to accommodate Easter Sunday (no voting) while maintaining voting on Good Friday and Holy Thursday. The legislation makes several permanent changes to Election Law: it allows write-in votes for candidates already on the ballot to be counted, permits non-postmarked absentee ballots received 2-7 days after Election Day to be cured via voter affirmation, and adds mechanisms to challenge certificates filling vacancies in designations. Assemblyman Norris opposed the bill, citing concerns about voting during Holy Week when election staff and voters may wish to observe religious holidays, the administrative burden on Boards of Elections, and the permanent Election Law changes regarding postmarks and write-in votes, which he argued could create opportunities for fraud. Ms. Walker defended the provisions as respecting voter intent and noted the non-postmarked ballot cure codifies a recent federal court decision. The Republican Conference opposed the bill generally, though members were encouraged to vote individually. The Majority Conference supported passage.
Source: Official NY Assembly floor session transcripts (Granicus). AI-processed. Includes sessions from 2023 onward where transcripts are available.