FY 2027 Executive Budget for New York State

The FY 2027 Executive Budget emphasizes affordability, education, public safety, infrastructure, and strong fiscal reserves, all while avoiding new income tax hikes and maintaining New York’s strong credit standing. Lawmakers will now review and negotiate the proposal ahead of the final budget.

🧾 Big Picture

• The Executive Budget proposes about $260 billion in total state spending for Fiscal Year 2027 (State fiscal year begins April 1).
• It is designed as a balanced budget with no new state income tax increases while maintaining fiscal stability.
• State reserves remain strong at around $14.6 billion to prepare for economic uncertainty or federal funding changes.
• New York’s AA+ credit rating (highest since 1972) is cited as helping lower borrowing costs.

👪 Affordability & Family Support

• Major investments aimed at making New York more affordable, especially for families and working households.
• Includes significant funding for child care and Pre-K services (around $4.5 billion statewide).
• Proposed tax relief such as elimination of state income tax on tipped wages up to a cap.

📚 Education & Youth

• Historic levels of school aid (record funding in state history) to support public education across districts.
• Continues universal free school meal programs and expands early learning resources.

🏥 Health, Housing & Safety Net

• The budget protects access to health care and resources even in the face of federal funding cuts.
• Investments include health services, affordable housing initiatives, food security programs, and nutrition assistance.

🚓 Public Safety & Infrastructure

• Funding for public safety and crime prevention, including gun violence prevention and enhanced law enforcement support.
• Transportation and infrastructure investments include billions in transit aid (e.g., MTA operating support), roads, bridges, and design work on major projects.

🌱 Environment & Climate

• Continued and expanded clean water, energy efficiency, and environmental protection funding.
• Supports energy affordability programs and efforts to address climate change with targeted capital investment.

🏙️ Economic Growth

• Support for economic development and community revitalization, including funding for arts, local projects, and initiatives to support workforce and business growth.