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flag New York passes $254 billion budget, boosting child tax credit and extending "millionaire tax."

flag New York State lawmakers have passed a $254 billion budget for fiscal year 2026, representing a $17 billion increase from the previous year. flag Key measures include tripling the child tax credit, issuing inflation refund checks, and extending the "millionaire tax." flag The budget also allocates funds for subway safety, mental health treatment, and Medicaid payments, among other initiatives. flag The budget was approved five weeks after the April 1 deadline, with lawmakers' paychecks suspended until approval was completed.

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