Kathy Hochul wants to increase her ‘terrible’ tax credit for her Hollywood sponsors to $700 million.

Gov. Kathy Hochul is proposing to expand and expand tax credits for film and TV productions as part of her record-breaking $227 billion budget proposed Wednesday — months after she received big Hollywood money while running for a full term.

“This is just disgusting and terribly bad public policy,” John Kaheny, executive director of good government group Reinvent Albany, told The Post.

“This is a very public demonstration of how pay-to-play and special interest politics completely distort the way the government works here and how our tax dollars are spent.”

newly elected governor proposes increase the controversial tax credit from $420 million to $700 million in the fiscal year starting April 1 and extend the loan for another five years through 2034.

Manufacturing will also see government rebates increase from 25% to 30% of their total eligible costs.

Such a move would ostensibly protect the state’s 57,000 jobs while making New York more competitive with states like New Jersey as they expand their own incentives to attract manufacturing.

This will benefit a number of Hollywood luminaries, such as director Steven Spielberg, who gave a maximum of $47,100 to her campaign last year, along with his wife Kate Capshaw, about a year after taking advantage of the tax credit while directing. “West Side Story.”

Hochul stated that the fundraiser does not affect her financial decision.

“Nothing I do in the budget is dependent on politics or election results. I’m guided by what’s best for New Yorkers,” she told reporters on Wednesday.

Previous research shows that over the past two decades, tax breaks have resulted in billions of dollars of taxpayer money being wasted.

“Since 2004, New York State has provided $7.8 billion in tax credits to the film and television industry—nearly enough to build two Mario M. Cuomo Bridges or two Freedom Towers,” the document says. 2020 study by good government group Citizens Budget Commission. “But despite steady and growing investment, the film tax credit hasn’t benefited New Yorkers enough and should be repealed.”

The fact that Hochul is being trusted despite a growing body of research on its effectiveness is a worrying question, says Reinvent Albany.

“Either her advisers are ill-informed or her administration is downright cynical and floating in pay-to-play,” the group said in a statement.

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