Gov. Kathy Hochul is expected to unveil the top lines for her massive New York State budget Thursday morning — with little to no new money for the Big Apple expected, The Post has learned.
The top number of the budget was not immediately known, nor were the details on the major policy sticking points, including rolling back the controversial climate change law and the governor’s pitch to lower car insurance costs.
Hochul will unveil the deal at 9 a.m.
The delayed handshake deal with legislative leadership comes as New York City’s fresh-faced leader has begged the governor for more money to help fill what Mayor Zohran Mamdani has claimed is a $5.4 billion budget gap.
Albany is expected to deliver some relief to the young socialist by either helping financially or delaying the class-size mandate for city schools, according to insiders. That is expected to provide around $600 million of relief
State lawmakers were also working on adjusting payments to pension funds, which could help to the tune of up to $1.5 billion, but the details were still being hashed out late Wednesday evening.
Hochul has been adamant that Mamdani needed to find savings in his ballooning $127 billion budget, which is roughly half the size of the current state budget.
The freshman mayor, though, has proposed little to get spending under control and kicked the can on rolling out his executive budget proposal to next week.
The governor did try to give Mamdani a political win that he could spin to his base as a major victory in his pledge to tax the rich, through a pied-à-terre tax on expensive second homes in the city.
But the tax is only projected to generate some $320 million and is expected to face a series of hurdles.
The budget was originally due on April 1.
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