FY 2024 Budget Raises Minimum Wage to $16 Upstate, Followed by $0.50 Annual Increases in 2025 and 2026, Ties Wages to Consumer Price Index
Adds $391 Million for New York's Emergency Rental Assistance Program to Support Thousands More Tenants and Families, Including New York City Housing Authority Residents and Section 8 Voucher Recipients
Expands Empire State Child Credit to Children Under Four, Supporting Nearly 630,000 Additional Children
Includes Nation-Leading Climate Measures that Provide Labor Protections and Project Labor Agreements
Governor Hochul: "We are the model. We're going to continue lifting people up. And so, the basic premise of this — let's give New Yorkers a pay increase. Let's give them a raise and Upstate here it'll be $16 in a couple of years."
Hochul: "After the wage [increase] goes fully into effect in 2027, from this day forward, it'll be indexed to inflation, so when prices go up, your wages will go up, and that's what we accomplished here. That'll help 900,000 New Yorkers get a pay increase, and I'm really proud of that."
Earlier today, Governor Kathy Hochul highlighted FY 2024 Budget investments to support Western New York workers and make the state more affordable. The Budget includes investments and initiatives to address the affordability crisis by raising the upstate minimum wage to $15-per-hour in 2024, followed by $0.50 annual increases in 2025 and 2026 and tying future increases to the Consumer Price Index, expanding the Emergency Rental...
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