New York Passes Largest $254.3 Billion Budget, Boosting Education and Film Incentives

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Updated May 9, 2025, 05:24 PM

New York lawmakers have passed the state's 2025-2026 budget, totaling $254.3 billion, marking it as the largest budget in the state's history. The budget, which is over $10 billion more than the previous year's, was approved after a delay of over a month past the April 1 deadline. Governor Kathy Hochul signed the budget into law on Friday morning, ending a five-week delay that had significant implications, including schools scrambling for funds and a freeze on lawmakers' pay. The budget includes $37 billion allocated for education, with a notable policy change to relax rules on religious schools' educational standards. It also uses emergency reserves to pay off a $7 billion unemployment debt. The budget also features increased spending on public schools, transit systems, and entitlement programs, alongside a $1 billion tax cut aimed at middle- and lower-income earners. It includes 'inflation refund' checks of up to $400 for residents and a ban on smartphone use in public schools. However, it has been criticized for not addressing potential federal spending cuts that could affect New York's reliance on federal funds. Additional measures in the budget include increased penalties for crimes committed while wearing masks, changes to the state's criminal discovery laws, and expanded incentives for film and television production, including a new incentive for music scoring.

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Sources

nysfocus.com gothamist.com reason.com news10.com

New York Focus

@nysfocus

NEW: Hochul's budget includes $37 billion for education, as well as a controversial decision to relax rules requiring religious schools to provide the "substantially equivalent" education as public schools. https://t.co/WhX5scvmKq https://t.co/07gGxmSZs3

Jimmy Vielkind

@JimmyVielkind

New York lawmakers passed a $254 billion state budget late Thursday, but acknowledged they may have to make major alterations if President Donald Trump and Congress cut federal spending. @JonCampbellNY looks ahead --> https://t.co/5na6HwkH45

reason

@reason

New York just passed its largest budget ever—$254 billion—without serious reform, restraint, or accountability. It’ll mean more spending, more mandates, and more migration out of the state. https://t.co/QJDp3kHLg2