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Governor Andrew Cuomo at a recent event in the Bronx
Carlo Allegri/AP/Shutterstock
New York’s legislative leaders have finalized a $212 billion budget that will raise income taxes on the wealthy while sending billions of dollars to struggling tenants, schools, small businesses, and undocumented residents impacted by the pandemic.
The last of the ten bills that make up the budget were passed by the State Senate overnight, with the State Assembly expected to finish voting on Wednesday afternoon. The final bills were hailed as a historic victory by progressives, who successfully fought to raise $4.3 billion through additional income and corporate taxes, over the objections of Governor Andrew Cuomo.