Overview
- The governor told Fox 5 she will not raise personal income taxes and is reviewing other revenue sources.
- Politico reported that state officials are discussing a possible increase in the corporate tax rate, with any decision to be taken through the budget process.
- Hochul said budget pressures stem from federal policy changes under President Trump, citing a lack of clarity on future impacts.
- Progressives pressed for new revenues after Zohran Mamdani’s win, with proposals such as universal childcare that her budget office estimates would exceed $10 billion when fully phased in.
- Republican Rep. Elise Stefanik and business groups criticized the reported corporate tax discussions, warning of higher costs for families and reduced affordability.