On March 5, 2013, the New York Assembly passed legislation that
would increase the minimum wage by $1.75 to $9.00 per hour,
beginning January 1, 2014. The bill also contains a provision tying
future increases to the federal consumer price index (CPI) and will
now go before the New York Senate.
Senate Republicans are seeking to negotiate with Democrats in an
effort to lower the proposed minimum wage in exchange for
amendments to other proposed legislation related to business tax
cuts for employers. One proposal from Republicans would raise the
minimum wage to $8.50, with annual increases eventually brining the
state-wide minimum wage to $9.00 within two to three years.
Regardless of the final details, the legislature appears likely to
approve a substantial increase of the New York minimum wage in the
near future, increasing employers' cost of doing business in
the state.
