New York expects a $3 billion gap next year from the 'Big Beautiful Bill'

And a federal appellate court has upheld a big New York gun law.

Good afternoon — it’s Thursday and Kitten Day.

In today’s CapCon:

• State Budget Director Blake Washington laid out to reporters the state’s expectations of how the “Big Beautiful Bill” will impact New York’s financial plan.

• A federal appellate court upheld a controversial New York gun law Thursday.

• Environmental groups have launched a five-figure ad campaign over the bill that would repeal the 100-ft. rule.

• A Democrat running against Rep. Elise Stefanik released an ad Thursday made entirely with artificial intelligence. Watch it.

• A new bill would prohibit landlords from rejecting prospective tenants based on their credit score.

• Youth-targeted mobile crisis teams are the subject of a bill that will be considered this year by Gov. Kathy Hochul.

Names in today’s CapCon: Blake Washington, Kathy Hochul, Zellnor Myrie, Julie Tighe, Elise Stefanik, Mike Lawler, Blake Gendebien, Kevin Parker, Amy Paulin, Cordell Cleare, Brian Cunningham, Siela Bynoe, James Skoufis

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State Budget Director Blake Washington (Jim Franco/Times Union)

💵 New York will need to make up hundreds of millions of dollars this year

The state is prepared to fill the initial gap in revenue that’s expected to result from the “Big Beautiful Bill” signed into law last week by President Donald J. Trump, State Budget Director Blake Washington said Thursday.