New York State to allocate additional $1.5 billion in operating expenses to New York City over the next two-years

ALBANY, NY- New York State is aimed to allocate another $1.5 billion worth of operating expenses to New York City over the next two-years.

This development stems from a Monday announcement from the office of Governor Kathy Hochul. We have been in touch with the office of Assemblyman Ken Blankenbush and he is expected to soon release a statement.

We have also arranged an on-air segment to discuss this development in more detail, specifically if there will be any impacts felt on North Country taxpayers.

In the meantime, Governor Hochul’s office says she has increased support for New York City every year since taking office.

Officials say this additional funding includes $510 million in recurring funding targeted towards costs that had shifted from the state to New York City under prior administrations, including about $300 million for youth programming, a restoration of $150 million in sales tax receipts that would have otherwise been retained by the state, and $60 million for public health.

The remaining $500 million will be targeted to shared priorities to be determined in subsequent discussions.

“A strong New York City means a stronger New York State. This investment protects services and puts the city on stable financial footing,” Governor Hochul said.

“New Yorkers expect the state and the city to work together, and I’m proud to partner with the Mayor to deliver for working families.”

New York State Capitol image.