By Eileen Buckley
Albany, NY – The State Senate and Assembly reached agreement Tuesday to raise New York's minimum wage.
The deal to to increase the minimum wage would occur in three steps. It would be elevated from $5.15 an hour to $7.15 by the year 2007. Assembly Speaker Sheldon Silver says the first hike would take effect in January when the minimum wage would increase to $6.00 an hour.
"Then it would rise to $6.75 an hour by January 1st of 2006, and $7.15 per hour on or after January 1st of 2007," Silver said.
Silver says there are tens of thousands of New Yorkers who struggle everyday to make ends meet, even though they are employed. He say the wage increase would help working families at the lowest income levels, while putting an "undue burden" on small businesses and the economy.
The bill is expected to be introduced in both houses later today for a vote. If approved, it would be the first increase in the minimum wage since March of 2000.