For the past decade, in keeping with rising costs and the natural pace of inflation, New York has spent more and more yearly, being eclipsed in spending only by California. Last year’s budget of about $220 billion was heavily debated, with one point of contention being that our state’s spending habits are unsustainable. The costs themselves are barely offset by new revenue ventures like lax gaming laws, and still rely heavily on the burdensome taxation of New Yorkers. Some sources rank New York as the highest overall tax-burdened state in the country, and yet many citizens see little opportunity to enjoy that investment. Between mismanaged public programs and a considerable amount of funds frequently divulged to New York City, Upstate New Yorkers often end up with the short end of the stick when it comes to receiving public benefits. As for us in the Hudson Valley region, the biggest concern I’ve heard is affordability first and foremost, and unfortunately, the budget proposal from my colleagues across the aisle does little to change the trajectory of this problem.

The One-House Budget proposed by Assembly Majority lawmakers offers the possibility of spending more than even the governor proposed. This is in contrast to the governor’s more fiscally-responsible proposals like debt cap limits or saving $5 billion for emergency liquidity. The proposal also provides that taxes should increase by $3.8 billion forFiscal Years 2024 and 2025, which is $3.4 billion more than the governor wanted. That will be accomplished with a further increase in income taxes on the top two tax brackets, as well as what they call a temporary business tax increase for an additional three years. If these proposals make you nervous, they make me nervous too. The rich may survive these hikes, but moving to another state, like Florida, is just as feasible for them. The idea is not to coddle the rich, but to ensure thatpeople in all tax brackets will want to stay and support the state’s programs. Even a temporary business tax raise concerns me. New York is already considered a poor location to set up business, but I can imagine we will only continue to lose business enterprises with these proposals.

This budget is not set in stone, of course, but based on this state’s history of spending grandly and asking questions later, it is not a particularly encouraging tease for what is likely to come. I have spent my political career advocating for fiscal responsibility, and while I can commend the virtue of wanting to ensure public programs are continually and appropriately funded, this habit is unsustainable for the long-term economic health of New York. I will be paying attention to budget debates over the course of these next few weeks, and I will be fighting for you to ensure affordability is the topic of the day in these discussions.