State & Local Government Policy, Business and Technology

N.Y. Budget Deal Includes 'Federal Financial Response Mechanism' for Cuomo

Route Fifty: State leaders in New York announced a long-awaited fiscal 2018 budget agreement on Friday, that among other things, funds Gov. Andrew Cuomo’s priority to provide free tuition for middle-class families to attend public universities in the state.

But there’s an interesting feature of the budget deal: It includes a “federal financial response mechanism” that gives Cuomo the ability to make changes to the approved budget if Congress and the Trump administration take action that drastically impacts the state’s finances.

“It’s very important not put our financial feet in concrete but that we can adjust when we need to,” Cuomo said at a press conference on Friday.

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