SR1722

The New York State Senate passed its one-house budget resolution (SR1722) on a 38-22 party-line vote, advancing a $270 billion spending plan that represents a $16.1 billion increase in state operating funds. The resolution, led by Finance Chair Sen. Liz Krueger, proposes $5.6 billion in new revenue through business tax extensions, decoupling from federal tax policies, and authorizations for New York City to increase certain taxes. The Majority argued the budget addresses crises created by federal funding cuts and rising costs, investing in affordability through childcare expansion, education, healthcare, and housing programs. Republicans countered that the budget exacerbates unaffordability through excessive spending and taxes, driving businesses and residents from the state. Key disputes centered on energy policy, with Democrats defending the CLCPA and clean energy investments as necessary for long-term affordability, while Republicans blamed state policies for utility costs 50-61 percent above the national average. The budget also faced criticism for failing to address auto insurance fraud, Medicaid fraud, and utility relief. The resolution now moves to negotiations with the Governor and Assembly, with a final budget due by April 1.