The New York City Council on March 10, 2026, introduced proposed legislation (Bill Int. No. 757, referred to as the “New York City Minimum Wage Act”) that would create a New York City minimum wage higher than the current state standard. If enacted, the New York City Minimum Wage Act would implement phased increases beginning in 2027–reaching $30 per hour by 2030–with automatic cost-of-living adjustments in future years. The bill also proposes a path to eliminate tip credits for food service workers, and imposes additional notice, recordkeeping and anti-retaliation requirements and penalties.

Below is a high-level summary of the proposal.

Phased Wage Increases Through 2032

The proposed minimum wage increases apply to all private employers that operate in New York City, and would set differing minimum wage amounts depending on whether the employer is a “large” or “small” employer. The proposed NYC wage schedule is as follows:

• Large employers (over 500 employees nationwide)
  • $20.00/hour on January 1, 2027
  • $23.00/hour on January 1, 2028
  • $26.00/hour on January 1, 2029
  • $30.00/hour on January 1, 2030
  • Beginning January 1, 2031, wages would increase annually based on inflation.
• Small employers (500 or fewer employees nationwide)
  • $19.00/hour on January 1, 2027
  • $21.50/hour on January 1, 2028
  • $24.00/hour on January 1, 2029
  • $27.00/hour on January 1, 2030
  • $29.00/hour on January 1, 2031
  • Beginning January 1, 2032, wages would increase annually based on inflation.

The Consumer Price...

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