Cozen O’Connor Public Strategies (CPS) announced that Jessica I. Monahan — a transportation policy expert who has secured federal funding for a range of nonprofits, local governments, Fortune 100 companies, emerging businesses, and government contractors — has joined its Washington D.C.-based lobbying team as a senior principal.
March 12, 2024
On March 12, 2024, the New York State Assembly and Senate released their one-house budgets, indicating their priorities for the Fiscal Year 2025 (FY25) budget.
Both houses proposed raising taxes for high earners, increasing the tax rate to 10.8% (from 10.3%) for those making between $5M and $25M and to 11.4% (from 10.9%) for those making over $25M, lasting through the 2027 tax year. The Senate and Assembly also proposed raising the corporate tax rate to 9% (from 7.25%) through the 2026 tax year. In a statement, Governor Hochul indicated these proposals are a “nonstarter,” and she has declined to raise taxes in her own proposal.
Both houses of the legislature are prioritizing housing. The Senate included a proposal for a new public benefits corporation to build affordable housing on state-owned land and stated they are “open to further discussing” the creation of a tax exemption for new multi-family construction in NYC, so long as it includes deeper affordability requirements, strong transparency and compliance provisions, living wages for construction and building service workers, and is proposed as part of a comprehensive housing package including Good Cause Eviction. The Assembly did not include this language but joined the Senate in advocating for a $250M rental voucher program to help New Yorkers at risk of eviction.
Both the Assembly and Senate rejected the Governor’s adjustment of school funding distribution, which would have ended a policy ensuring that schools receive at least as much state funding as the prior year despite enrollment declines. The Senate included $1M in their recommended budget to conduct a study on how to adjust the education funding formula. Both houses included proposals that would restore cuts to school funding, but neither house proposed to extend NYC mayoral control over the City’s schools (which has been in place since 2002 and expires this year). The Assembly and Senate also accepted the Governor’s proposed funding of $2.4B in asylum seeker funding for NYC, although Mayor Adams has stated that the City requires increased funding.
Now that the legislature has released its one-house budgets, negotiations will begin with the Governor’s team. The final budget is due on April 1.
Cozen O’Connor Public Strategies, an affiliate of the international law firm Cozen O’Connor, is a bipartisan government relations practice representing clients before the federal government and in cities and states throughout the country. With offices in Washington D.C., Richmond, Albany, New York City, Philadelphia, Harrisburg, Chicago, and Santa Monica, the firm’s public strategies professionals offer a full complement of government affairs services, including legislative and executive branch advocacy, policy analysis, assistance with government procurement and funding programs, and crisis management. Its client base spans multiple industries, including healthcare, transportation, hospitality, education, construction, energy, real estate, entertainment, financial services, and insurance.
Established in 1970, Cozen O’Connor has over 775 attorneys who help clients manage risk and make better business decisions. The firm counsels clients on their most sophisticated legal matters in all areas of the law, including litigation, corporate, and regulatory law. Representing a broad array of leading global corporations and middle-market companies, Cozen O’Connor serves its clients’ needs through 31 offices across two continents.
April 25, 2024
April 25, 2024
April 24, 2024
