Will the minimum wage increase?

After weeks of delays, a tentative agreement has been reached on the New York state budget. As both sides continued to iron out the many details, the April 1 state deadline was extended five times to keep the government running, and to make sure employees were still getting paid.

According to Gothamist, this would make it the latest state budget since 2010, when an agreement wasn't reached until August. The Post Standard says that Governor  Hochul and NY state lawmakers have agreed to a tentative deal on a $229 billion budget.

New York Minimum Wage

One huge factor was a proposed increase to the state's hourly minimum wage, which some politicians had been pushing for to be set at over $20 dollars an hour. According to the Post Standard, the current minimum wage for workers in New York City and Long Island is $15, while the rest of the state is at $14.20 an hour.

Many New York State Employees to See a Raise? 

According to Gothamist, New York lawmakers and Governor Kathy Hochul reached a compromise to increase the minimum wage by 50 cents a year until it reaches $17 an hour in New York City and LI. But there are bigger increases for now coming for the Hudson Valley, according to the budget deal.

Blake Borg
Blake Borg

Gothamist reports that areas "north of Westchester County" will get an increase of 80 cents in 2024, then 50 cents a year after that until it hits $16.

See Also: What is New York State's Wealthiest County Outside of NYC/LI?

Gothamist also says that after those rates are reached, the wage would then be tied to inflation in line with the Consumer Price Index, rather than be subject to the desires of NY state lawmakers.

Compromise Finally Reached?

The Post Standard says that some wanted to increase the state’s minimum wage to $21.25 by 2026, and then adjust it each year going forward for inflation. Those in favor continue to bring up rampant inflation, and that the living wage set in the pre-COVID world no longer being realistically sustainable.

Opponents say the increase in hourly wages could hurt smaller business, and force employers to lay off employees

The federal minimum wage of $7.25 has not changed since 2009, though a number of states and localities in the country increased their minimum wages for hourly workers after January 1, 2022, according to Paycor.

LOOK: See how much gasoline cost the year you started driving

To find out more about how has the price of gas changed throughout the years, Stacker ran the numbers on the cost of a gallon of gasoline for each of the last 84 years. Using data from the Bureau of Labor Statistics (released in April 2020), we analyzed the average price for a gallon of unleaded regular gasoline from 1976 to 2020 along with the Consumer Price Index (CPI) for unleaded regular gasoline from 1937 to 1976, including the absolute and inflation-adjusted prices for each year.

Read on to explore the cost of gas over time and rediscover just how much a gallon was when you first started driving.