New York Gov. Kathy Hochul has rolled out a $252 billion budget that calls for tax cuts, expanded child credits and record spending on programs amid better-than-expected revenues. Hochul's executive proposal for the fiscal year that begins on April 1 is about $19 billion,

The $252 billion proposal represents the largest spending plan of Hochul’s tenure and includes a pledge to modestly decrease the tax rate on households making under $323,200 a year. She has also proposed an expansion of a child tax credit for those with children under 4 years old.

New York's racing and pari-mutuel law, with its labyrinthine clauses and subparagraphs that few in the state capital of Albany truly understand, would see some simplifications under a state budget proposal unveiled Jan.

Overall, the governor's proposed budget would increase spending by $8.6 billion, including a $5.3 billion surplus.

New York Gov. Kathy Hochul (D) on Tuesday will propose a $252 billion spending plan with income tax cuts alongside an expanded social safety net as the state faces potential uncertainty from a federal government under GOP control.

Enacted in 2021 and set to expire at the end of 2027, Hochul’s budget would extend it five years through 2032. Hochul’s executive budget will form the basis of negotiations with the state Legislature ahead of an April 1 deadline.