The State Senate and Assembly budget resolutions announced last night support some of the progressive tax revenue raisers that the PSC and our coalition partners have been campaigning for. (See Spectrum News for more information.) These resolutions are not the final budget; they identify priorities of each house and set the table for the remaining budget negotiation. The Assembly proposal would increase funding for Opportunity Programs like SEEK and College Discovery, establish Tuition Assistance Program (TAP) awards for graduate students, and raise the income eligibility thresholds for TAP awards and the Excelsior Scholarship. Details of the Senate proposal will be available soon.
In response to the progress made on progressive taxation in the one-house budgets, PSC President James Davis released a statement:
“We are encouraged that many legislators are willing to be bold in the face of federal attacks, a looming City deficit, and a deepening affordability crisis. The revenue raisers endorsed this evening by the State Senate and Assembly have broad support among voters because they are fair. Now it’s time for the Governor to work with the Legislature to offset the federal funding cuts, close the deficit, and devote long-term ongoing investments in a statewide affordability agenda.
Increasing taxes on New York’s highest earners and wealthiest corporations should not be controversial. The richest New Yorkers have received a windfall in tax breaks from Donald Trump and the MAGA majority in Congress. Governor Hochul can now reclaim this money for the state and empower New York City to raise the funds it needs to safeguard its budget.
We look to the Governor to lead on tax fairness, not cut public services on which New Yorkers depend. New York’s economy needs investment, and millionaires need to pay their fair share.“
Published: March 10, 2026
