Each house in the New York State legislature released its budget proposal, and both called for raising taxes on wealthy New Yorkers. Jimmy Vielkind, New York State Issues reporter for WNYC, reports on how that will affect negotiations, since Governor Hochul is firmly against a tax hike, and other issues in the assembly's and senate's proposals.

Photo: Senate Majority Leader Andrea Stewart-Cousins, left, and Speaker Carl Heastie, center, meet with Gov. Kathy Hochul, right, following a presentation of Gov. Hochul's executive budget proposal on Tuesday, Jan. 20, 2026, at the Capitol in Albany, N.Y. (Will Waldron/Albany Times Union via Getty Images).