Golf - The 2025 Ryder Cup - Bethpage Black Golf Course, Farmingdale, New York, United States - September 24, 2025 New York Governor Kathy Hochul during the opening ceremony IMAGN IMAGES via Reuters/Dennis Schneidler
(New York, New York) – New York Gov. Kathy Hochul may be preparing to revisit the issue of tax increases after the next election, according to recent reports and political speculation surrounding the state’s long-term budget outlook.
While Hochul has publicly maintained that she does not want to raise taxes on middle-class New Yorkers, growing fiscal pressures — including projected budget gaps and increased spending demands — have fueled questions about what comes next once voters head to the polls.
Budget Pressures Mount
New York is facing multibillion-dollar outyear deficits, along with rising costs tied to transit funding, migrant services, education, and other major programs. Progressive lawmakers in Albany have continued to push for higher taxes on corporations and top earners to close the gaps.
Though no formal proposal has been introduced, reports indicate that revenue-raising options could be revisited after the election cycle, when political pressure may be reduced.
Public Position vs. Political Reality
Hochul has repeatedly said she wants to keep New York affordable and competitive, particularly as some high-income residents have left the state in recent years. However, critics argue that budget math may eventually force difficult decisions.
At this point, there is no official announcement of a tax hike plan. But with spending commitments rising and long-term fiscal challenges ahead, the question of whether taxes could increase after the next election is likely to remain a major issue in Albany.
