Governor Hochul Announces Highlights of FY 2023 Budget

Bridge Street Development Corporation supports the Fiscal Year (FY) 2023 Executive Budget that has been outlined by Governor Kathy Hochul and Division of the Budget Director Robert F. Mujica Jr. This budget will help rebuild New York’s healthcare and education workforces, provide tax relief to those in need, generate economic growth and employment opportunities, improve the state’s infrastructure, confront the issue of climate change, make housing more affordable and improve the overall quality of life in our communities.

“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.”

-Governor Hochul

With these investments, Governor Hochul proposes to rebuild and grow the healthcare workforce by 20 percent over the next five years; fund an estimated 880 additional full-time faculty at SUNY and CUNY institutions; create a new property tax relief credit, called the Homeowner Tax Rebate Credit, to eligible low- and middle-income households, as well as eligible senior households; provide tax reliefs and up to $250 million in additional relief to small businesses; support final phases of major infrastructure projects; create and preserve 100,000 affordable homes over the next 5 years; and fund initiatives that will strengthen gun violence prevention, combat climate change, and take significant steps to address the opioid crisis.

Read the full press release here: