KA-CHING!

CA, NY Enact $15 Minimum Wage

The Democratic governors of New York and California signed into law Monday bills raising the minimum wage in their states to $15 per hour. Under Gov. Jerry Brown’s plan, California’s hourly minimum wage would increase to $10.50 from $10 in 2017, then by an additional $1 annually until 2022. Meanwhile, in New York, Gov. Andrew Cuomo’s signature will get workers in New York City to $15 per hour by the end of 2018, with the exception of businesses with 10 or fewer employees, which will have about four years to implement the increase. Long Island and Westchester County won’t have to reach the $15 figure for as much as six years. Areas north of Westchester are only required to hit $12.50 by 2021.