Hochul Announces $268B State Budget Framework with NYC Pied-à-Terre Tax, $1.5B Aid, $1.2B Childcare — Heastie Says 'Not So Fast'

Hochul announced a "general agreement" Thursday morning on a $268B FY2026 state budget that delivers Mamdani three of his top asks: a NYC pied-à-terre tax on luxury second homes (~$500M/yr), $1.5B in additional NYC aid, and $1.2B for childcare expansion. Package also rolls back climate mandates, reshapes auto-insurance, eliminates the income tax on tips, limits NYPD/ICE cooperation, and adds utility-bill rebate checks. Assembly Speaker Carl Heastie pushed back hours later, saying ~50 items remain unresolved and Hochul "spoke prematurely" — adding fresh uncertainty as the 9th extender expires tomorrow (May 8) and the 10th extender is now likely.

• keptPied-à-terre tax on $5M+ second homes
• brokenCorporate tax hike ($1.75B/year)
• brokenDouble DCWP budget to $135M
• brokenIncrease Human Rights Commission funding to $21M

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