New York Senate Unveils One-House Budget Proposal

Plan includes new taxes, expanded social programs, and increased funding for public services

Mar. 13, 2026 at 8:04am

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The New York State Senate Majority has released its one-house budget resolution, outlining funding proposals and policy changes affecting housing, healthcare, education, transportation, and other programs. The plan includes new taxes, expanded social programs, and increased funding for public services across the state.

Why it matters

The Senate's budget proposal aims to address federal funding reductions and focus on affordability for New York's working families, as well as invest in local economies across the state. It reflects the Senate Majority's priorities and will be negotiated with the Assembly and Governor before a final state budget is adopted.

The details

Key elements of the Senate's budget proposal include a 0.5% personal income tax surcharge on the top two income brackets, raising the top corporate tax rate from 7.25% to 9% for businesses with income over $5 million, ending several tax exemptions, adjusting the state's pass-through entity tax credit, authorizing New York City to increase certain local taxes, and providing over $5 billion in revenue and funding for New York City. The plan also includes more than $2 billion in childcare subsidies and investments, $200 million for the Energy Affordability Program, and significant increases in education and healthcare funding.

  • The New York State Senate Majority released its one-house budget resolution this week.

The players

Andrea Stewart-Cousins

Senate Majority Leader, who said the proposal responds to federal funding reductions and focuses on affordability.

Michael Gianaris

Senate Deputy Leader, who said the plan addresses rising costs and carries New Yorkers through the current affordability crisis.

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What they’re saying

“As Washington continues to cut essential programs New Yorkers rely on, our one-house budget aims to strengthen funding to support the well-being of New York's working families and invest in local economies across our state.”

— Andrea Stewart-Cousins, Senate Majority Leader (fingerlakes1.com)

“The Senate budget proposal would accomplish what is needed to carry New Yorkers through the current affordability crisis.”

— Michael Gianaris, Senate Deputy Leader (fingerlakes1.com)

What’s next

State lawmakers will continue negotiations with the Assembly and the Governor before adopting a final state budget.

The takeaway

The Senate's one-house budget proposal reflects the Majority's priorities to address federal funding cuts, support working families, and invest in local communities across New York. The final state budget will be the result of negotiations between the Senate, Assembly, and Governor.