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.