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New York Passes Third Budget Extender as Talks Stall on Insurance and Climate

The stopgap funds operations through Thursday, signaling unresolved fights over insurance rates, climate law changes, project reviews.

Overview

  • Lawmakers approved a $3.4 billion extender Monday that keeps paychecks and services going through Thursday as the budget slips more than two weeks past the April 1 deadline.
  • Talks remain stuck on Gov. Kathy Hochul’s push to cut auto insurance costs, proposed changes to the 2019 climate law, and easing environmental review rules used to vet housing projects.
  • Deputy Senate Majority Leader Mike Gianaris said the governor was less than willing to compromise, while a Hochul spokesperson said she is flexible but will not retreat from lowering premiums.
  • Members pressed for proof that insurance rates would fall, discussing steps like requiring the Department of Financial Services to track prices, lowering insurers’ excess‑profit cap, and adjusting a six‑year rolling average used in rate setting.
  • With legislators’ pay withheld until a deal is done and more short-term extensions expected if talks fail this week, pressure is rising to finish a roughly $263 billion spending plan.