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Photo: Lev Radin/Pacific Press/LightRocket via Getty Images

New York Lt. Gov. Kathy Hochul (D) will be sworn in as governor once Andrew Cuomo's resignation goes into effect in 14 days.

Why it matters: Hochul will become the first woman to serve as governor of New York and will serve out the rest of Cuomo's term until the 2022 midterms.

What they're saying: "I agree with Governor Cuomo's decision to step down. It is the right thing to do and in the best interest of New Yorkers," Hochul tweeted.

  • "As someone who has served at all levels of government and is next in the line of succession, I am prepared to lead as New York State’s 57th Governor."

"Kathy Hochul, my lieutenant governor, is smart and competent. This transition must be seamless," Cuomo said in remarks announcing his resignation on Tuesday.

  • "We have a lot going on on. I'm very worried about the Delta variant, and so should you be. But she can come up to speed quickly, and my resignation will be effective in 14 days," he added.

White House press secretary Jen Psaki said later on Tuesday that the administration looks forward to working with Hochul.

The big picture: Donors have been encouraging Hochul to run for governor since an independent investigation found that Cuomo sexually harassed multiple women, including some of his employees, in violation of state and federal law.

  • He had previously refused calls to resign from nearly every prominent Democrat in the country, but finally gave in on Tuesday amid the threat of months-long impeachment proceedings.
  • Hochul had already been seeking advice on first steps in office, including which Cuomo officials to keep, the Wall Street Journal reported on Sunday.

Hochul began distancing herself from the governor as women began to come forward with sexual harassment allegations last spring.

  • She called Cuomo's behavior "repulsive and awful" after New York Attorney General Letitia James' investigation results were released.
  • Hochul had publicly supported James' decision to conduct an independent investigation, saying that she was "confident everyone's voice will be heard and taken seriously."

Background: Hochul won a special election in 2011 for a New York congressional seat that had not gone to a Democrat in 40 years. However, she lost the seat after districts were redrawn in 2012 and her district became more conservative.

  • Cuomo asked Hochul to join his gubernatorial ticket as lieutenant governor in 2014, after former Lt. Gov. Robert Duffy announced he would not be seeking another term.
  • Cuomo and Hochul rarely appeared in public together.

Go deeper

Oct 12, 2021 - Health

Judge rules New York must allow religious exemptions in health care worker vaccine mandate

Health care workers protest against being forced to get the COVID-19 vaccine outside the New York State Office Building in Hauppauge, New York. Photo: Alejandra Villa Loarca/Newsday RM via Getty Images

A federal judge ruled Tuesday that New York state must allow for religious exemptions in its COVID-19 vaccine mandate for health care workers.

Why it matters: The move is a new obstacle in the course of Gov. Kathy M. Hochul’s effort to require inoculation for all health care workers.

Biden headed to the Hill as Democrats struggle to reach deal on spending bills

President Biden and House Speaker Nancy Pelosi leave a House Democratic Caucus meeting in the U.S. Capitol on Friday, Oct. 1, 2021 in Washington, DC. Photo: Kent Nishimura / Los Angeles Times via Getty Images

President Biden on Thursday morning will meet with the House Democratic Caucus on Capitol Hill to provide an update about his Build Back Better agenda and the bipartisan infrastructure deal, according to a White House official.

Driving the news: The meeting comes as Democrats struggle to reach a deal on the spending bills. House Speaker Nancy Pelosi told CNN on Sunday that Democrats were planning to reach an agreement on the infrastructure package this week, before Biden's departure to Europe, which is slated for later on Thursday.

Felix Salmon, author of Capital
45 mins ago - Economy & Business

Why it's so hard to tax wealth

Illustration: Sarah Grillo/Axios

The wealth tax that wasn't a wealth tax isn't even a tax, now. The Democrats had a meticulously constructed 107-page proposal to pay for a large chunk of their spending plans with a tax on billionaires, but it died ignobly on Wednesday, the same day it was unveiled.

Why it matters: The dream of a wealth tax will never die as it so neatly generates revenue by reducing inequality. But there are three main reasons why that dream is likely to remain just a dream for the foreseeable future.