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Agreement reached on $212B state budget, including tax hike for the wealthy

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Several days after its due date of April 1, New York legislators and Gov. Andrew Cuomo have finally come to an agreement on the $212 billion 2022 state budget.

Posted: Apr 6, 2021 5:11 PM
Updated: Apr 6, 2021 5:25 PM

ALBANY, N.Y. – Several days after its due date of April 1, New York legislators and Gov. Andrew Cuomo have finally come to an agreement on the $212 billion 2022 state budget.

The following key items were included:

  • $29.5 billion in aid to schools
  • $29 billion in public and private green economy investments
  • $2.4 billion for rent and homeowner relief
  • $2.4 billion for child care
  • $2.1 billion for excluded workers
  • $1 billion for small business recovery
  • Affordable broadband internet
  • Legalizing mobile sports betting
  • Implementing comprehensive nursing home reforms

"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,” said Cuomo.

It's is not yet clear what agreement was reached with the Oneida Indian Nation on mobile sports betting.

The highest-earning New Yorkers would also face the nation’s steepest income tax rate under this budget.

The wealth tax is considered a win for the Democratic party’s left wing, who say that millionaires in Manhattan penthouses have fared far better amid the pandemic then struggling small businesses and low-income New Yorkers.

States including California, Minnesota and Washington are also considering wealth taxes, raising taxes on capital gains or setting new top income tax rates.

New York Coronavirus Cases

County data is updated nightly.

Cases: 2533155

Reported Deaths: 56222
CountyCasesDeaths
Kings33439110849
Queens31559610296
Suffolk2404693613
Nassau2149303300
Bronx2078026754
New York1685484637
Westchester1438522343
Erie1071301956
Richmond890341936
Monroe849411189
Orange57778920
Rockland53278779
Onondaga52461765
Dutchess35776500
Albany31074390
Oneida28870590
Broome24729409
Niagara24203398
Saratoga20485204
Ulster17349280
Schenectady16899229
Rensselaer14947170
Putnam1254198
Chautauqua12526175
Oswego11817115
Chemung11046157
St. Lawrence10701128
Steuben10273173
Ontario9436110
Jefferson900378
Cayuga8722107
Sullivan852683
Wayne827885
Cattaraugus7830118
Genesee7098132
Herkimer6875128
Clinton680740
Tompkins657459
Fulton6432104
Madison6266102
Montgomery6036142
Livingston580071
Warren557184
Cortland540180
Tioga518672
Columbia5043111
Chenango473388
Washington468467
Allegany468298
Otsego461755
Wyoming442858
Greene442087
Orleans440189
Franklin435222
Lewis364938
Delaware359148
Seneca276163
Essex236231
Schoharie232822
Yates167328
Schuyler155417
Hamilton4393
Unassigned15130
Out of NY0319
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