New York Gov. Andrew M. Cuomo (D) and state legislative leaders have reached a budget deal that would raise the minimum wage in New York City to $15 by the end of 2018, and implement a softer phase-in period in other areas of the state, according to a report from The New York Times.
Here are five things to know about the budget deal on wages.
1. In areas north of Westchester County, the minimum wage, which is currently $9, will rise by 70 cents annually over the next five years, eventually reaching $12.50 by the end of 2020. Gov. Cuomo said the minimum wage would continue to rise toward $15, depending on its economic impact, according to the report.
2. Long Island and Westchester County will not reach a $15 wage for nearly six years.
3. The wage plan includes caveats. The wage could be suspended if it was determined to be hurting the economy, and in New York City, businesses with 10 or fewer employees will have nearly four years to institute the wage increase, according to the report.
4. While the wage agreement fell short of the vision Gov. Cuomo previously laid out in his State of the State address in January and championed in a subsequent labor-backed campaign, the governor still characterized the increase as a major accomplishment, for working people as well as for his own political brand, The New York Times reports. "We're leaders," he said, according to the report "in economic justice."
5. With the $15 wage, New York became the second state to embrace that threshold; California lawmakers passed a similar measure last month, according to the report.
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