Albany Democrats want to repeal Hochul's education cuts and raise taxes on high-income earners

Metro

by born golden

Democrats in the state Legislature want to reverse Gov. Kathy Hochul's education funding cuts and accept part of a deal to encourage more housing as part of state budget negotiations.

The state Senate's sweeping budget proposal, released late Monday night, would be funded by higher taxes on New Yorkers' earnings of $5 million or more and an increase in corporate taxes.

The Senate proposal is a largely symbolic part of a process aimed at scrutinizing the terms under which legislative leaders and the governor hammer out a state budget behind closed doors in the coming weeks.

The $233 billion budget Hochul announced in January includes changes to the state's education funding formula, known as foundation aid. Under Hochul's plan, 337 school districts, or nearly half, would receive a reduction in the amount of foundation grants they receive this year.

Democrats and Republicans, along with powerful advocacy groups and labor unions like the New York State United Teachers Association, immediately and loudly rejected the education cuts.

In response to Hochul, Senate Democrats are proposing to rescind this year's funding changes. They are proposing to set aside $1 million to conduct research on how to adjust this formula, which many Pauls have publicly said needs to be fixed.

“I think it's clear that we have concerns about the education proposal,” Senate Majority Leader Andrea Stewart-Cousins ​​told reporters last week.

Blake Washington, Hochul's budget director, told reporters last week that revised revenue projections show the state could add an additional $1.3 billion beyond what the governor's original budget anticipated. He also indicated that he would be willing to “revise'' the education proposal.

“I think it's probably fair game,” Washington said.

Despite projected revenue increases, Senate Democrats still intend to raise taxes primarily on high-income earners. Under that budget, New Yorkers who earn more than $5 million a year would see their tax rates rise. Tax rates would jump even higher for people making more than $25 million.

Hochul vowed early in this year's budget process that he would not agree to a new income tax.

The Democrats' plan comes in response to a number of other proposals by the governor, including an open-ended plan to build more housing, close illegal drug stores, combat retail theft and reform costly home health care programs. .

The state Legislature is expected to release a budget this week.

The deadline for submitting the national budget is April 1, but Hochul and others have expressed skepticism that this year's negotiations will be completed by the deadline, which coincides with the Easter holiday.