| Governor Cuomo Announces Highlights of State's FY 2022 Budget April 07, 2021 10:45 a.m. |
Governor Cuomo Announces Highlights of FY 2022 Budget to Reimagine, Rebuild and Renew New York $311 Billion Infrastructure Plan - Largest in the Nation & Most Expansive in State's History - Will Create Thousands of Jobs Across the State
Offered to Low-Income Families Enhances Public Safety by Authorizing the Withholding of 50 Percent of State and Federal Funds from Jurisdictions that Fail to Produce a Police Reform Plan; Requires the Attorney General to Appoint a Monitor to Ensure Safe Policing Directs $2.3 Billion in Federal Child Care Resources to Expand Availability, Quality and Affordability of Child Care Across the State; Enacts Employer Child Care Credits $29 Billion in Public and Private Green Economy Investments Establishes Prevailing Wage & Buy American Requirement Protects Renters by Creating $2.4 Billion Rent Relief Program Enhances Quality of Care at Nursing Homes with Patient-Centered Reforms Provides $1 Billion in Small Business and Arts Relief and Recovery Assistance Enacts Middle Class Property Tax Credit and Continues Middle Class Tax Cut; Expected to Save 4.8 Million New Yorkers Over $2.2 Billion This Year $29.5 Billion School Aid, 11% Increase, Record Funding Governor Led National Effort for State and Local Federal Funding with New York State Receiving $12.6 Billion; Budget Closes Remaining Gap; Adds $3.5 Billion in Tax Revenue and Invests in COVID Response and Recovery Governor Andrew M. Cuomo today announced highlights of the FY 2022 Enacted Budget to reimagine, rebuild and renew New York in the wake of the ongoing COVID-19 pandemic. The Budget supports the Governor's $311 billion infrastructure plan - the largest in the nation and the most expansive in State's history - that will create thousands of jobs across the State. The Budget establishes a first-in-the-nation program to provide affordable internet by requiring internet service providers to offer an affordable $15 per month high-speed internet plan to qualified low-income households. The Budget enhances public safety by authorizing the withholding of up to 50 percent of State and Federal funds from jurisdictions that fail to produce a police reform plan and comply with the Governor's Executive order. The Governor may require that the Attorney General appoint a monitor over the police force until the plan is adopted. The Budget directs $2.3 billion in federal child care resources to expand availability, quality and affordability of child care across the state, and enhances the Employer Provided Child Care Credit to provide meaningful incentives to employers to help them provide child care to their employees. The Budget supports $29 billion in public and private green economy investments to create 12,400 megawatts of green energy - enough to power 6 million homes - helping to fulfill the goals of New York's Climate Leadership and Community Protection Act and also spur the COVID economic recovery. The investments include the largest offshore wind program in the nation, plans to make New York a global wind energy manufacturing powerhouse, constructing a green energy transmission superhighway, a public- private partnership to build nearly 100 renewable energy projects and supporting transit agencies' transition to electric busses. The Budget ensures that New York uses Buy American principles in manufacturing of renewable components. The Budget also requires prevailing wage for construction labor peace agreements for operations and manufacturing. The Budget ensures access to fair and safe housing and protects renters by establishing a $2.4 billion rent relief program using Federal and State funds. The Enacted Budget includes comprehensive nursing home reform legislation to help ensure facilities prioritize patients over profits, establishing minimum thresholds for nursing home spending on direct resident care and staffing, and investing $32 million annually to implement the reforms, while capping profits and performing related party transactions to drive funding to where it matters most, the patients. The Budget enacts small business and arts relief and recovery assistance, a robust $1 billion relief package for small businesses, arts, entertainment and restaurant relief to help them recover from the impacts of the pandemic. It includes $865 million in grants and $139 million in tax credits. The Budget also continues the phase-in of the middle class tax cut, which is expected to save 4.8 million New Yorkers over $2.2 billion this year. From the beginning of the pandemic, Governor Cuomo led the national effort to secure Federal funding for state and local governments, with New York State receiving $12.6 billion in aid to help offset devastating revenue losses caused entirely by the pandemic. With this Federal funding and additional revenues, including $3.5 billion in new tax revenue that rises to $4.3 billion in FY 2023, the Enacted Budget closes the deficit and invests in the ongoing response to the pandemic and recovery efforts. "New York was ambushed early and hit hardest by COVID, devastating our economy and requiring urgent and unprecedented emergency spending to manage the pandemic," Governor Cuomo said. "Thanks to the State's strong fiscal management and relentless pursuit to secure the federal support that the pandemic demanded, we not only balanced our budget, we are also making historic investments to reimagine, rebuild and renew New York in the aftermath of the worst health and economic crisis in a century. This budget continues funding for the largest-in-the-nation $311 billion infrastructure plan, establishes a groundbreaking program to provide affordable internet for low-income families and enhances public safety through police reforms, all while continuing to provide relief to New Yorkers and small businesses as we recover from the pandemic. I thank the legislative leaders - Senate Majority Leader Stewart-Cousins and Assembly Speaker Heastie - for their partnership in helping make this critical budget a reality and delivering results for the people of this state." Fiscal Highlights of the FY 2022 Enacted Budget:
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