Hochul unveils budget agreement with legislative leaders

The $237 billion proposal includes a housing deal that proved to be a major sticking point.
The New York Capitol is seen, Dec. 14, 2020, in Albany, N.Y. (AP Photo/Hans Pennink, File)

New York Gov. Kathy Hochul (D) announced Monday that she and legislative leaders struck “the parameters of a conceptual agreement” for the state budget, including a hard-fought deal intended to boost the state’s housing supply while protecting tenants.

Hochul said state leaders agreed to expand tax breaks for developers and provide incentives to communities that build more housing, among other measures.

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