New York Governor Hochul Unveils Highlights of Historic FY 2024 State Budget
Governor Kathy Hochul of New York has announced the highlights of the state’s historic fiscal year 2024 budget. The budget includes investments in education, healthcare, and affordable housing, as well as infrastructure and climate action initiatives.
Among the major highlights of the budget is a $29.5 billion investment in education, which includes funding for universal pre-kindergarten for all 3- and 4-year-olds, a $1 billion increase in foundation aid for schools, and $500 million for capital improvements to school buildings.
In addition, the budget allocates $8 billion for healthcare, including $1 billion to increase the number of healthcare workers and $700 million for mental health services. It also includes $20 billion for affordable housing and homelessness prevention, including funding for supportive housing and rental assistance programs.
The budget also addresses infrastructure needs, with $51 billion in capital investments for transportation, including $2.2 billion for the MTA and $3 billion for the Gateway Program. Additionally, there is $15 billion for climate action initiatives, including investments in clean energy and the creation of a new Office of Renewable Energy Siting.
Governor Hochul praised the budget as a historic investment in the people of New York and their future. She stated, “This budget makes the investments we need to build back better and create a brighter future for all New Yorkers. We are prioritizing education, healthcare, affordable housing, infrastructure, and climate action, and making sure that every community in our state has the resources they need to thrive.”