Statement from New York City Comptroller Mark Levine on Governor Hochul’s Executive Budget Plan

New York, NY — New York City Comptroller Mark Levine issued the following statement after the release of Governor Kathy Hochul’s Fiscal Year 2027 (FY27) executive budget:

“Governor Hochul’s executive budget balances investing in the programs that will address our affordability crisis while proactively protecting the essential social services that are being cut by the federal government. By increasing funding for Medicaid, child care, and school aid, New York will safeguard the health and education of millions of New York families.

“The Governor’s commitment to funding child care access for thousands of families across New York will transform the lives of our youngest New Yorkers and their families. This is mission-critical funding for our work to lower costs and ensure New Yorkers can afford to raise a family in the greatest city in the world.

“We are in a time of increased fiscal uncertainty in New York City. My office has projected a $2 billion budget deficit for FY26 and $10 billion deficit for the coming year. The threats of federal budget cuts and the turbulence of the federal government’s economic policies add further uncertainty to our fiscal outlook.

“As full details on the State budget become available, my office will conduct an analysis of the impact of this proposal on the City’s budget. We are mindful of the fact that the city’s status as economic engine for our state has not historically been reflected in allocation of State resources.

“I look forward to working with Governor Hochul, Mayor Mamdani, and leaders in Albany to pass a budget that will protect New York City’s hardworking families and people.”

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