Hochul’s FY 2026 budget, by the numbers

For another year in a row, Gov. Kathy Hochul proposed the largest budget in state history as she focuses heavily on tackling affordability. She celebrated better-than-expected tax revenues and recent improvements to the economy but acknowledged that many New York families continue to struggle with inflation and high costs of living. “That's why this budget is laser-focused on putting money back into New Yorkers’ pockets,” Hochul said at her budget presentation in Albany on Tuesday. The spending document includes details of fiscal proposals that she has spent the last few weeks touting around the state.

The executive budget document comes on the heels of the inauguration of President Donald Trump, who is promising to take action against blue states like New York and slash federal funding. “Let me be clear, changes at the federal level will create new challenges for our state and for programs that New Yorkers care deeply about,” Hochul said, before taking aim at Republicans like Rep. Mike Lawler, who is eyeing a run for governor. But aside from $21.2 billion in state reserves, it remains uncertain how the state may respond to drastic cuts in federal funding. 

Ahead of her address, Hochul released a nearly 150-page book detailing her budget for the 2026 fiscal year. Here are big takeaways from the plan and the numbers that make it up.

$252 billion – The size of the state budget that the governor proposed for the 2026 fiscal year.

$5.3 billion – The total amount of surplus funds for the fiscal year currently ending and projections for the upcoming fiscal year that officials say will be used to fund the governor’s affordability agenda.

2032 – The year to which the governor wants to extend the state’s millionaires tax, which raises the tax rates for earners making between $5 million and $25 million, and those making over $25 million. It was originally planned to sunset in 2027.

$13.5 million – The funding Hochul is pitching to implement her cellphone ban in schools. Under the governor’s proposal, it would apply during school hours and would be left up to school districts to figure out enforcement.

$90.8 billion – The amount of money that the state is expecting to receive in federal funding. With the new Trump administration, the future of federal dollars is very much in flux for crucial programs like Medicaid.

2000 – The census year that the state had been using for poverty data in determining Foundation Aid. Hochul’s budget proposes updating that to use the most recent Census Small Area Income and Poverty Estimates data instead, which officials say will lead to more equitable distribution. It was one of the recommendations on how to change the Foundation Aid formula from a recent state-mandated study.

100% – The percentage of energy used by state agencies that should be renewable by 2030. The proposed budget includes a $1 billion investment into sustainability efforts, but it notably does not include new details on a cap-and-invest program meant to raise money for climate resiliency efforts and reduce carbon emissions in the state.

4.7% – The percentage increase to state school aid, which is once again the highest state commitment to schools in state history. It brings the total amount of school aid to a proposed $37.4 billion.

$5,000 – The amount of money that the governor claims her cost saving measures like an “inflation reduction” rebate check, increased child tax credit and middle class tax breaks will save the average family per year.

1 – The number of fiscal intermediaries the state will have to administer the popular Consumer Directed Personal Care Assistance program, come April 1. The restructuring was agreed to in last year’s budget as a cost-saving measure for Medicaid. There are currently over 600 companies that act as fiscal intermediaries. It’s anticipated to save the state $500 million in the upcoming fiscal year as part of the state’s $35.3 billion Medicaid spending in the 2026 fiscal year.

0 – The number of suggestions for how to fund the gap in the Metropolitan Transportation Authority’s 2025-2029 capital plan. Legislative leaders rejected the MTA funding plan, and Hochul’s budget leaves the funding question up to negotiations with the state Legislature, effectively putting the ball in their court. 

$0 – The amount of new money that the state is giving to New York City to deal with the migrant crisis. Over the past two years, the state has set aside over $4 billion in state dollars to assist the city, but budget officials say that city still hasn’t made use of all of that yet.