Tech:NYC’s Statement Following Passage of the New York State Budget

May 28, 2026

Tech:NYC released this statement following the passage of the New York State budget.

“While this year's budget took longer than anticipated, we're happy with the end result — a plan that prioritizes investment, affordability, and a commitment to keeping New York competitive. 

Significantly, after listening to more than 1,600 founders, executives, and investors, the Legislature and Governor preserved the state’s Qualified Small Business Stock (QSBS) exclusion, despite a proposal to alter it, which would have undermined investment and job creation across the state. We appreciate the willingness of our elected officials to support entrepreneurship across New York, and our Tech:NYC members who engaged in the legislative process. This is an example of the government working as it should. 

We also strongly support the Governor’s push to embed affordability throughout the budget, from reducing insurance rates for drivers, lowering utility costs, and making it easier to build more housing. For New York to remain a growing tech hub, we need to make sure it remains the best place in America to live and to create a business.

Finally, the enacted budget includes the Safe by Design Act, which requires certain online platforms to use age verification to implement default safety settings and parental controls for kids. We look forward to working with policymakers and the Attorney General on finalizing age verification standards for this and the Safe for Kids Act.”

— Julie Samuels, President & CEO, Tech:NYC