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Each spring, Albany lawmakers decide how to spend hundreds of billions in public money in a famously opaque budget process. The state’s budget is bigger than those of most countries, and exceeds that of every state except California.
At stake are key questions for New York. Will the state weaken its landmark climate law? Will it speed up the process for building new housing? Boost pensions? How will the state fund Gov. Kathy Hochul’s child care expansion?
With lawmakers having already blown past the April 1 budget deadline — surprise! — the answers are coming down to the wire. Amid the bare-knuckle negotiations up north, our friends at New York Focus have written a piece giving readers a sense of how the state’s budget process works — and why it matters.
Weather ⛅
Partly sunny, with a high near 82, going down to 66 at night.
MTA 🚇
In Brooklyn, no D trains at Coney Island-Stillwell Avenue from 9:45 a.m. to 3 p.m. Find all the MTA’s planned changes and the latest delays here.
What feud? City Council Speaker Julie Menin said she’s backing Mayor Zohran Mamdani’s choice for investigations commissioner.
A lifeline to landlords: This afternoon, Mamdani will announce a taxpayer-funded insurance pool to shield landlords of rent-stabilized buildings from runaway premiums.
Reporter’s Notebook
Building Doormen Vote to Authorize Strike
More than 34,000 luxury building doormen voted to authorize a strike if they don’t reach an agreement on raises and healthcare by Monday, their union, 32BJ SEIU, announced Wednesday.
Talks between the union and the Realty Advisory Board, which represents owners of some of the city’s most coveted condos and co-ops, are ongoing, though they remain far apart on key issues. The union says management wants to force workers to begin paying for their healthcare coverage, which is currently paid for entirely by employers. The union nearly went on strike over the same issue in 2022, but reached a deal the day before the scheduled walk-out. A 1991 strike lasted 12 days.
More than 10,000 workers rallied on Park Avenue on Wednesday ahead of the vote, joined by Mayor Zohran Mamdani and others.
“We are prepared to strike on April 21, for fair wages, our healthcare, our pensions, and our union contract,” union president Manny Pastreich said in a statement.
— Claudia Irizarry Aponte
13,000 Pieds-à-Terre
Gov. Kathy Hochul has proposed taxing New York City’s pieds-à-terre — luxury apartments with absentee owners worth more than $5 million — to help Mayor Mamdani close the city’s $5.4 billion budget hole.
The tax would generate “at least” $500 million per year and would apply to 13,000 units used as second homes, Hochul said Wednesday. That’s a fraction of the 59,000 homes “held for seasonal, recreational or occasional use,” as per the 2023 Housing and Vacancy Survey.
Hochul said the tax would not apply to renter-occupied units, but other details are up in the air: What will the tax rate be? How is that $5 million measured — by the sale or assessed price? How would the tax work for property owned by notoriously opaque LLCs and trusts?
— Samantha Maldonado
Things To Do
Here’s what’s going on around the city this week.
Thursday, April 16: The new winners of the Whiting Awards for emerging writers will read from their work at Books Are Magic in Brooklyn Heights. Free, at 7:00 p.m. Reserve a spot here.
Thursday, April 16: Married comedians Courtney Maginnis and Casey James Salengo present a show on the highs and lows of love at Pine Box Rock Shop in Brooklyn. Free, at 8:30 p.m. Reserve here.
Friday, April 17: Join NYC Parks staff on a hike around Sherman Creek in upper Manhattan to explore the diversity of spring wildflowers. Free, at 10:00 a.m.
THE KICKER: Federal prosecutors have charged the leader of SantaCon with stealing over $1 million raised for charity at the annual boozy event.
Thanks, as always, for reading. Make it a great Thursday.
Love,
THE CITY
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