G
ov. Kathy Hochul is pushing to extend the Relocation and Employment Assistance Program (REAP) until 2030, as part of her executive budget. The program provides tax credits to businesses that relocate from outside NYC or below 96th Street in Manhattan to above 96th Street or other boroughs. A new program, dubbed "RACE" by state officials, would offer $5,000 credits per employee to businesses that move from out-of-state and take space in older buildings (at least 20,000 square feet built pre-2000). This aims to incentivize companies to occupy buildings that might otherwise be converted into residential units. The Five Borough Jobs Campaign supports the proposal, while opponents argue that REAP's renewal should be contingent on a thorough evaluation of its effectiveness.

    Hochul also faces criticism for not addressing potential federal funding cuts in her budget. When asked about this issue, she shifted the responsibility to the federal government, saying "Elections have consequences." The Citizens Budget Commission has called the spending plan "short-sighted" due to its lack of preparedness for future federal cuts.

    In other news, assaults on NYC subways have tripled between 2009 and 2024, with half of these incidents occurring at just 30 stations. Meanwhile, attorneys general from Democratic states, including New York, have pledged to sue the Trump administration if it moves forward with its mass deportation plan.