The Democrat briefed reporters on the spending deal Friday night as lawmakers worked late to approve a budget before a new fiscal year begins Sunday.
The budget deal also includes $1 billion in new education spending, investments in water quality and money to fight Lyme disease.
The agreement contains one new tax, a fee on opioid manufacturers and distributors intended to fund efforts to combat addiction.
Lawmakers also inserted language to create a commission to examine whether members of the Senate and Assembly deserve a pay raise.
In desperate need of a new revenue stream to help pay for New York City's aging mass transit system, Governor Cuomo believes a surcharge on ride hailing services could be the key.
"Long term we need a funding stream for the MTA," he said. "The congestion pricing, I believe, is a concept whose future has come."
With the deadline for an approved state budget just two days away, Cuomo detailed phases of a congestion pricing plan that would tax Ubers, Lyfts, and other similar services $2.75 on trips in Manhattan south of 96th Street.
Meanwhile yellow cabs would be taxed $2.50 in the same zone with the revenue from both surcharges contributing to the subway action plan.
"That should raise $415 million that would go to fund the MTA - that would be annual," said Cuomo.
Simultaneously reducing gridlock and raising money for the MTA, this plan has been in the works for over a year. A separate bus plan will also incorporate more lanes and enforcement cameras throughout the city.
This proposal is just a small fraction of the $168 billion budget
(The Associated Press contributed to this report.)
----------
* More local news
* Send us a news tip
* Download the abc7NY app for breaking news alerts