Delgado starts fundraising: 'We need a new generation of Democratic leadership'

And a look at one-house budget expectations heading into next week.

Good afternoon — it’s Friday and Fish Fry Day.

In today’s CapCon:

• Lt. Gov. Antonio Delgado has started fundraising after launching an “exploratory committee.”

• When to expect one-house budgets to be released and voted on next week, and a packaging reduction bill is moving in the Senate.

• The building trades are urging the Legislature to include a revenue proposal for the MTA’s capital plan in their one-house budgets next week.

• Eyes & Ears: Catch up on what you might have missed in New York politics, policy and government from the week.

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Lt. Gov. Antonio Delgado (Paul Buckowski/Times Union)

📈 Delgado is now fundraising for an ‘exploratory committee’ ahead of 2026

It’s been less than two weeks since Lt. Gov. Antonio Delgado announced that he would not run for reelection on a ticket with Gov. Kathy Hochul.

The day after that announcement, I was first to report that Delgado had filed a new committee with the state Board of Elections. That means you, as a subscriber, were first to find out. (Reminder that we’re offering a 30-day free trial right now.)

That was just the latest hint that Delgado had decided to challenge Hochul in a primary next year. The former congressman has left a trail of breadcrumbs over the past year to that end; his new committee is for an “undeclared” office.

But Delgado may be closer to declaring than we think, and he’s not holding back.