Hochul said they are still "finalizing the details" of the pied-a-terre tax.
"For New York City, we are finalizing the details of the pied-a-terre tax to help close the city's budget gap without eroding its tax base or burdening hard working New Yorkers," Hochul said. "I'll have more to say on that soon but I want to be very clear, my commitment to New York City has been and always will be iron clad. This budget already includes $28 billion in total aid for the city, a $9 billion increase since I came into office."
Hochul also announced major investments, including a universal path to child care. The state will increase funding by $1.7 billion bringing the total FY27 investment to $4.5 billion for child care and pre-kindergarten services statewide.
The governor also announced budget reforms will mean lower auto insurance premiums for New Yorkers.
The final budget will include a one-time, $1 billion energy rebate to provide relief to New Yorkers dealing with rising energy costs.
The budget also includes comprehensive protections against unprecedented escalation in aggressive enforcement bye ICE.
Hochul also said that the budget will include landmark reforms to cut red tape and speed up the building of critically needed housing and infrastructure projects that often face extensive delays and raise costs for New Yorkers.
The state's budget had been delayed more than a month as Hochul worked on several proposals.
----------
* Get Eyewitness News Delivered
* Follow us on YouTube
* More local news
* Send us a news tip
* Download the abc7NY app for breaking news alerts