New York’s Hochul Helps To Plug Buffalo’s Big Budget Hole

Over the last few years, there have been a lot of discussions and arguments surrounding the condition of Buffalo's finances. Depending on who you ask, the budget shortfall that Buffalo is dealing with is anywhere from $7 million to $80 million or more. One thing that we know for a fact is that New York State's second-largest city is in financial trouble and will need lots of help to fix it.

Since taking office on January 1st, current Buffalo Mayor Sean Ryan has been ringing the alarm all over the state as to the conditions of the city's finances and that Buffalo will need financial support from the state to keep from going bankrupt.

For years, Buffalo has touted some of the lowest taxes in the state, and now it seems that the nearly two decades of well-below-average taxes are coming back to haunt the Queen City.

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On the heels of the announcement that Governor Hochul and the New York State Legislature are giving New York City more than $1 billion to help plug its budget deficit, the Empire State's top executive is going to help Buffalo fill its cash gap as well.

With members of both the New York State Senate and New York State Assembly working on the 2026/27 budget, Hochul's request to amend the state's budget comes at a time when many Empire State cities are struggling just to handle the basics.

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Like many of the other central cities in the state, Buffalo is responsible for providing many services that the surrounding suburbs don't have to deal with, and that drain on the infrastructure, in addition to years of financial mismanagement, put places like Buffalo in a tough spot.

Having spent years in local government, I understand the unique challenges our local leaders are experiencing, which is why my Administration has worked closely with municipalities across the state to increase financial support from the State... We want all of New York's municipalities to succeed, and this funding is crucial to putting all of our cities, towns and villages on stronger financial footing and allowing them to keep their residents safe and continue providing the vital services they rely on.
-Kathy Hochul, Governor of New York

If things are approved as they stand, Buffalo will get an additional $40 million in state financial aid, as current city officials work to make Buffalo's budget more sustainable.

Buffalo isn't the only Western New York city that's getting some extra cash from the state; Niagara Falls is set to receive an additional $6.2 million, along with another $2.2 million for Lackawanna.