“With a new year and legislative session upon us, today’s State of the State Address by Gov. Hochul outlined her priorities for 2024, addressing issues important to New Yorkers across the state.

“The Midyear Financial Plan released in October indicated the state is facing outyear budget gaps totaling over $21 billion through State Fiscal Year 2026-27.

“With federal pandemic funding winding down, it is important New York’s spending is aligned with its revenues and focused on services that matter to New Yorkers. I’m pleased the governor and legislature followed my recommendation to increase the state’s rainy-day reserves, which now provides more fiscal stability in the wake of any economic hardship.

“I look forward to hearing more about the state’s plan to meet today’s proposals when the state budget is released later this month.”