Bruce Blakeman, the Republican frontrunner in the New York gubernatorial race, has proposed tapping into a substantial $4 billion state discretionary fund to offer immediate tax relief to residents. This fund is currently designated to stabilize New York during economic downturns.
The Nassau County Executive criticized Governor Kathy Hochul, alleging she is using the state’s “reserve for economic uncertainties,” which holds $3.8 billion, as a “secret slush fund.”
Blakeman suggested that if emergency funds are truly necessary, the state should instead utilize its $9.2 billion “rainy-day reserve.”
“New Yorkers face some of the highest taxes and utility costs in the nation,” Blakeman remarked in an interview with The Post.
According to Blakeman, the $3.8 billion in reserves could be used to reduce bills, invest in education, and offer permanent tax relief.
He pledged, “As governor, I’ll put an end to Hochul’s slush fund and return your money through a tax cut.”
Hochul campaign spokesperson Ryan Radulovacki declined to address how Hochul has used the reserve fund but accused Blakeman of having a history of “literally oppos[ing] putting money back in New Yorkers’ pockets.”
“[He] has done nothing but make life more expensive for families: Jacking up property taxes, backing [President] Trump’s illegal tariffs, and blowing a historic hole in Nassau’s budget that forced the state to come in and rescue him,” claimed the spokesperson.
Blakeman — whose campaign has centered around vowing to make New York safer and more affordable — has pledged to provide “historic” financial relief for residents during his first 100 days as governor.
This includes approving across-the-board, 10% income-tax cuts for people earning under $250,000; and eliminating all state income tax on the first $50,000 earned annually for single filers and $100,000 for joint filers.
