"New York's $229 Billion Budget Deal Includes Medicaid Spending Increase and Policy Changes"

Governor Kathy Hochul announced a tentative agreement for a $229 billion state budget that includes giving judges more discretion in setting bail and exempting suburban counties from an increase in the MTA payroll tax. The budget also calls for a rise in the minimum wage to $17 an hour in phases until 2026, from the current $15, and an increase in cigarette taxes. However, Hochul's proposed "housing compact" aimed at creating 800,000 units of affordable housing statewide was absent from the deal. The agreement now needs to be crafted into a printed bill and approved by legislative leaders.