New York State budget tweaks Foundation Aid formula
- Governor Kathy Hochul signed the $254 billion New York State budget for fiscal year 2026 on Friday after a delay of over a month.
- The budget followed extended negotiations amid criticism over secrecy and spending levels from both Democrats and Republicans.
- The plan fully funds Foundation Aid with a new formula, expands free school meals, tripled the child tax credit, and includes $1 billion for climate and clean energy investments.
- It allocates $3 billion to upgrade transit systems, adds 100 new inpatient psychiatric beds, distributes $2 billion in payments to help residents cope with inflation, and strengthens programs aimed at preventing gun violence.
- While praised for supporting families and infrastructure, the budget raises concerns about long-term fiscal sustainability and expanded executive spending powers.
15 Articles
15 Articles
New York State budget tweaks Foundation Aid formula
ALBANY, N.Y. (NEXSTAR) — New York State's enacted budget boosts school aid statewide, altering the foundation aid formula that allocates money to districts. It sets a new record at $37.6 billion for K–12 public schools in fiscal year 2025—about $14,000 per pupil—representing an increase of $1.7 billion over fiscal year 2024. Foundation Aid—the main state funding program—is $26.4 billion, up $1.4 billion over last year. That formula covers expens…
Hochul criticized over $254B policy-laden budget
(The Center Square) — Gov. Kathy Hochul and New York's Democratic legislative leaders are being criticized for muscling through a $254 billion late state budget packed with controversial policy items that dramatically increases state spending.
New York state budget creates Office of Gun Violence Prevention
ALBANY, N.Y. (NEXSTAR) — The enacted state budget for fiscal year 2025 creates a formal New York State Office of Gun Violence Prevention to consolidate gun control efforts. OGVP will be part of the Division of Criminal Justice Services, the agency that oversees law-enforcement training and data collection. Get the latest news, weather, sports and entertainment delivered right to your inbox! OGVP “will direct the coordination of state, loca…
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