ALBANY, NY (July 7, 2026) — Governor Kathy Hochul has signed the FY 2027 budget, aiming to make New York more affordable, enhance public safety, and expand opportunities statewide.
Key initiatives include a path toward universal childcare, $1 billion in energy rebate checks, and measures to reduce utility costs. The budget also introduces a surcharge on luxury second homes in New York City to raise revenue without affecting everyday residents.
Childcare and Family Support
Governor Hochul is committing to investments supporting nearly 100,000 additional children with affordable childcare. The budget increases funding for childcare and prekindergarten services to $4.5 billion, aiming to make Pre-K universal statewide by 2028.
Public Safety and Gun Control
With more than $900 million in public safety funding, the budget includes measures to combat illegal 3D-printed guns and implement immigration protections. Hochul noted, “Every proposal included in this Budget was a fight for New Yorkers and their future.”
Utility Costs and Economic Relief
The budget features reforms to reduce utility costs, including $1 billion in energy rebates. It also lowers auto insurance rates and enacts protections for renters and homeowners.
This article was prepared with the assistance of AI tools under the direction and editing of Robert Cox.
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