NY governor Kathy Hochul smiles as she says she will force companies big and sma to raise minimum wage with inflation

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One of the most potentially consequential proposals in Gov. Kathy Hochul’s State of the State address last week would require the minimum wage to rise with inflation annually for hundreds of thousands of workers to “tackle the affordability crisis head-on.”

Supporters argue her proposal to “index” the minimum wage to inflation would not only serve fairness and social justice, but boost the economy by putting more cash into the hands of consumers and help more New Yorkers to leave social services.


“You are telling businesses that, generally speaking … it will be more expensive every year,” Warren said. He said frequent increases in the minimum wage will cut jobs for New York’s most vulnerable and less-educated and scare away prospective employers looking to set up shop in New York state.

And when the minimum wage is raised, that’s just the beginning for employers. Also rising would be worker’s compensation costs, payroll taxes, family leave costs and more at a time when companies face the highest inflation in decades.



That’s the sentiment behind a bill sponsored by Ramos, chairwoman of the Senate Labor Committee. Her bill would raise, the minimum wage to $21.25 for Long Island, New York City and Westchester and $20 upstate by 2026, followed by annual increases based on the inflation rate.