New York Governor Kathy Hochul has announced a proposal to increase the minimum wage across New York State. Under the proposed plan – which is sparse on details and has no current timeline for implementation - the New York State minimum wage would be indexed to inflation and increase annually at a rate determined by the growth in the year-over-year Consumer Price Index for Wage Earners for the Northeast Region. To ensure that no single-year increase would threaten employment, annual increases would be capped. Additional details of the Governor’s plan are sure to follow.

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