Congress members push for minimum wage hike; What would change for NYC
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A new bill has been proposed to raise the minimum wage — and New Yorkers could get a huge boost.
The minimum pay — which hasn’t been raised federally since 2009 — would be required to be upped by larger companies, according to the new legislation.
Here’s what to know about the possible pay raise and how New Yorkers would benefit.
What’s the minimum wage for New York now?
Currently, the minimum wage in New York City, Long Island and Westchester County is $17, with the rest of state set to $16.
Federally, the minimum wage is $7.25 — and hasn’t been upped for more than a decade.
What does the new proposal entail?
The new push, proposed by multiple members of Congress, is asking for the minimum wage to be raised to $25 nationwide.
It would be required for businesses with 500 or more employees, or companies who have a gross yearly revenue of $1 billion.
The Living Wage for All Act was introduced last week by Delia C. Ramirez (IL-03), Jesús “Chuy” García (IL-04), Lateefah Simon (CA-12) and Analilia Mejia (NJ-11).
“Large employers would reach $25 by 2031, while smaller employers would phase in more gradually, reaching $25 by 2038,” a press release on the move said.
“The Living Wage for All Act also ensures wages do not fall behind again by establishing a standard that keeps the minimum wage aligned with typical wages across the economy. As the economy grows and wages rise, the minimum wage would rise with it.”
Another bill was proposed in the NYC’s City Council earlier this year calling for a $30 minimum wage by 2030 for companies with more than 500 workers.
It would increase year-to-year, with $20 in 2027; $23 in 2028; $26 in 2029; and ultimately $30 in 2030.
Businesses with fewer than 500 employees would be expected to raise it to $29 by 2031, according to the proposal.
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