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Kathy Hochul on Budget & Economy

 

 


Housing is the number one driver of our affordability crisis

Housing is the number one driver of our affordability crisis. And the only way to decrease housing costs is to increase supply. We need to build, and build, and build some more. In my first State of the State address I unveiled an ambitious plan to build or preserve 100,000 units in five years. But more needs to be done. Let's invest an additional 100 million dollars in local development on top of the 650 million dollars we invested for pro-housing communities last year.
Source: 2025 State of the State Address to the New York legislature , Jan 14, 2025

Housing Compact has goal of 800,000 new homes in a decade

Today, I'm proud to introduce the New York Housing Compact, a groundbreaking strategy to catalyze the housing development we need for our communities to thrive. For our economy to grow. And our state to prosper. The Compact pulls together a broad menu of policy changes that will collectively achieve the ambitious goal of 800,000 new homes over the next decade. Because to do nothing is an abdication of our responsibility to act in times of crisis.
Source: 2023 State of the State Address to the New York legislature , Jan 10, 2023

Increase debt limit from $14.3 trillion to $16.7 trillion.

Hochul signed America Pays Its Bills Act

A bill to increase the debt limit from $14.3 trillion to $16.7 trillion.

[Explanatory note from Wikipedia.com `Debt Ceiling Crisis`]:

The US debt-ceiling crisis was a financial crisis in 2011 that started as a debate in the Congress about increasing the debt ceiling. The immediate crisis ended when a complex deal was reached that raised the debt ceiling and reduced future government spending. However, similar debates are anticipated for the 2012 and 2013 budget. President Barack Obama and Speaker of the House John Boehner announced on July 31 that an agreement had been achieved. After the legislation was passed by both the House and Senate, President Obama signed the Budget Control Act. On August 5, the credit-rating agency Standard & Poor`s downgraded the credit rating of US government bond for the first time in the country`s history.

Under US law, an administration can spend only if it has sufficient funds to pay for it. These funds can come either from tax receipts or from borrowing. Congress has set a debt ceiling, beyond which Treasury cannot borrow. The Obama administration stated that, without this increase, the federal government would shut down and the US would enter sovereign default, thereby creating an international crisis in the financial markets. Alternatively, default could be averted if the government were to promptly reduce its other spending by about half.

An increase in the debt ceiling requires the approval of both houses of Congress. A large majority of Democratic legislators (who held a majority in the Senate) favored tax increases along with smaller spending cuts. Supporters of the Tea Party movement pushed their fellow Republicans to reject any agreement that failed to incorporate large and immediate spending cuts or a constitutional amendment requiring a balanced budget.

Source: HR2663&S1326 11-HR2663 on Jul 27, 2011

Other governors on Budget & Economy: Kathy Hochul on other issues:
NY Gubernatorial:
Andrew Giuliani
Joe Pinion
Larry Sharpe
Lee Zeldin
Letitia James
Rob Astorino
Tom Suozzi
NY Senatorial:
Antoine Tucker
Charles Schumer
Joe Pinion
Josh Eisen
Kirsten Gillibrand
Mike Sapraicone
Gubernatorial races 2025:
New Jersey Governor:
Virginia Governor:
    Democratic primary June 17 cancelled:
  • Abigail Spanberger, U.S.Rep., VA-7 (2019-2024); Dem. nominee 2025
  • Levar Stoney, VA Secretary of the Commonwealth (2014-2016); (withdrew to run for Lt. Gov.)

    Republican primary June 17 cancelled:
  • Winsome Earle-Sears, Lt. Gov. since 2022; GOP nominee 2025
  • Amanda Chase, State Senate District 11 (2016-2023); failed to make ballot
  • Denver Riggleman, U.S.Rep. (R-VA-5); exploratory committee as Independent
  • Glenn Youngkin, Incumbent Governor , (2022-2025), term-limited
Mayoral races 2025:
NYC Mayor Democratic primary June 24, 2025:
  • Adrienne Adams, speaker of the City Council
  • Andrew Cuomo, former governor of New York, 2011-2021.
    Republican June 24 primary cancelled; general election Nov. 4:
  • Eric Adams, incumbent Democratic mayor running as an independent
  • Jim Walden, Independent; Former assistant U.S. Attorney
  • Curtis Sliwa, Republican; CEO of the Guardian Angels

Jersey City Mayor (Non-partisan)
    Non-partisan general election Nov. 4:
  • Mussab Ali, former president of the Jersey City Board of Education
  • Bill O'Dea, Hudson County commissioner (since 1997)
  • Jim McGreevey, former N.J. Governor (2002-2004)
  • James Solomon, city councilor (since 2017)
  • Joyce Watterman, president of the Jersey City Council (since 2023)

Oakland CA Mayor
    Non-partisan special election April 14, 2025:
  • Barbara Lee, U.S.Rep CA-12 (1998-2025)
  • Loren Taylor, Oakland City Council (2019-2023), lost general election
  • Sheng Thao, Oakland Mayor, lost recall election Nov. 5, 2024
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Energy/Oil
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Health Care
Homeland Security
Immigration
Infrastructure/Technology
Jobs
Local Issues
Principles/Values
Social Security
Tax Reform
War/Iraq/Mideast
Welfare/Poverty

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Page last updated: Jun 23, 2025; copyright 1999-2022 Jesse Gordon and OnTheIssues.org