How The ‘Historic’ New York State 2023 Budget Impacts You

New York's 2023 budget is said to make "historic investments in critical areas." Here's everything you need to know.

On Tuesday, Gov. Kathy Hochul outlined her Fiscal Year (FY) 2023 Executive Budget.

"Governor Hochul's Executive Budget makes historic investments in critical areas while ensuring that we are equipped for future shocks," Budget Director Robert F. Mujica Jr. said, "Never again will the State find itself unprepared for the opportunities - or challenges - ahead. After years of unprecedented hardship, this Budget makes the State, from a financial perspective, as resilient as its spirit. It is the Budget that New Yorkers deserve and expect."

The FY 2023 Executive Budget maintains the Governor's commitment to passing a bold agenda that rebuilds New York's healthcare and teacher workforces; provides tax relief to those who need it most; speeds up economic growth and creates good-paying middle-class jobs; strengthens the state's infrastructure and confronts climate change; secures public safety and protects communities; makes housing more affordable to ensure every New Yorker has a roof over their head; and enacts bold reforms to restore trust in State government, officials say.

"We have the means to immediately respond to the COVID-19 pandemic as well as embrace this once-in-a-generation opportunity for the future with a historic level of funding that is both socially responsible and fiscally prudent," Hochul said. "As I said in my State of the State speech: It's time for a better, fairer, and more inclusive version of the American Dream. I'm calling it the New York Dream. We will make that New York Dream real - and ensure that it can be realized by every single New Yorker."