3/3/25
Over the weekend, the Governor and the Legislature announced a consensus agreement on revenues for SFY25-26. The agreement provides for between $550 million and $800 million higher revenues than expected for the two-year period covering the current and upcoming fiscal year.
These are not new revenue sources by an agreed projection on the amount of monies the state is expected to receive from existing revenue sources. Next up are the One-House Budgets which we expect in the coming weeks.
Please find the NY Consensus Forecasting Conference Memo Attached