New York State Legislators and Governor Reach Tentative Budget Plan Including Minimum Wage Increase, MTA Funding, and Charter School Expansion

After a month’s delay, state legislators and Governor Hochul reached a tentative budget.

And they are expected to work over the weekend to define the new spending plan.

State lawmakers are due to meet next week to vote on it.

The budget is almost 230 billion dollars. includes:

• Increase in the minimum wage in the next few years to $16/hour in the city, and a gradual increase in the minimum wage to $17 by 2027.
• Upon reaching this, it will be indexed to the inflation rate.
• In addition, the state would give over a billion dollars to the MTA.
• Funds to combat illegal cannabis shops.
• Expansion of charter schools in the city.
• And further adjustments will be made to the state’s bail reform law by giving judges more authority to set cash bail.

Lawmakers rejected the governor’s proposal to expand access to housing in the state.

Hochul still wants to build 800,000 new housing units in the next decade.