In 2012 when the federal minimum wage was only $7.25 an hour, two hundred New York fast food workers went on strike to advocate for a higher minimum wage.
This ‘Fight for Fifteen’ led to a law being passed to raise the minimum wage until New Yorkers all over the state make at least $15 an hour. Six years later and concerns regarding the minimum wage being insufficient are again being voiced.
New York State Senate Bill S3062D, the “Raise the Wage Act,” sponsored by democrat State Senator Jessica Ramos (NY-13), will over the next two years, raise the minimum wage by $2 throughout the state. By January 2026, depending on the part of the state, the minimum wage will range from $20.00 to $21.25 per hour. Further increases will be automatic and in accordance with inflation, which usually runs at about 2% in the U.S.
Advocates say that by tying future minimum wage increases beyond 2026 to the inflation rate, small businesses will not be unduly affected. Because the bill includes an annual, gradual increase, small businesses will be able to better plan for small bumps.
They also claim that these slow increases in the minimum wage should not affect rent prices in NYC, as studies have indicated that it takes a 10% increase in the minimum wage to cause rents to increase.
Forcing major national employers like Restaurant Chains and Big Box stores to pay a livable minimum wage should enable workers to live without financial support from the government such as food stamps.
While the Federal Minimum Wage still stands at $7.25 per hour, and has since 2009, this bill if passed will insure that its residents can afford to work and live in line with the costs associated with living in NYC.
About the writer: Matthew Woodruff is an Independent Journalist and Author who believes in Freely Accessible, Honest and Open Reporting. Visit at MattWoodruffAuthor.com.
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