BUFFALO, N.Y. (WKBW) — Gov. Hochul announced Wednesday that the state's new 2024 budget will include a new plan to increase the minimum wage over the next three years.
Across the state, outside of New York City, Westchester, and Long Island, the minimum wage will increase to $15 in 2024. In 2025 and 2026, the wage will increase by $0.50 increments, bringing it to $16 by 2026.
In 2027, the minimum wage will increase solely based on a rate determined by the Consumer Price Index in order to keep up with inflation.
"In the face of steadily rising costs and inflation, this historic plan to overhaul New York's minimum wage will ensure that the wages of those hit hardest by the affordability crisis - including women, single mothers, and people of color - keep pace with the cost of living. This is a win for workers and for businesses: indexing the minimum wage to inflation will help hundreds of thousands of New Yorkers maintain their purchasing power, contribute to the state economy, and support our small business community. This Budget reaffirms my administration's commitment to addressing the affordability crisis for workers and businesses, and I will continue to work closely with the Legislature on solutions to provide New Yorkers with relief."
Gov. Kathy Hochul
You can read more on the highlights of the state's new $229 billion budget, here.
