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Commentary By E. J. McMahon

Putting Hochul to the Test: Will the Governor Use Her Budget Powers to Protect New York’s Fiscal Future?

Economics Tax & Budget

“We will not be raising income taxes this year,” Gov. Hochul declared in January at the opening of New York’s 2023 legislative session.

Since she’s sitting on a record $19 billion in surplus reserves, that should be an easy promise for the governor to keep — ”this year,” at least. But to avoid future tax hikes, Hochul will need to keep a lid on spending in her coming budget negotiations with the Legislature.

Continue reading the entire piece here at New York Daily News (paywall)


E.J. McMahon is a senior fellow at the Empire Center for Public Policy and a Manhattan Institute ­adjunct fellow. Follow him on Twitter here.

Photo by Steve Pfost/Newsday RM via Getty Images