Governor and legislative leaders reach deal on budget; includes minimum wage hike
Gov, Andrew Cuomo and legislative leaders have a deal on the state budget that closes a $1.3 billion deficit, creates jobs, and cuts taxes for middle class families and small businesses, according to a release issued Wednesday.
The budget raises the minimum wage to $7.25 to $9 over the next three years. The governor said the current minimum wage “is unfair, unlivable and unsustainable.”“This year’s budget proves once again that by working together, government can deliver results for the people of New York and continue the work of growing our economy and creating jobs. New York is rising and coming back stronger than ever before,” the release said.
Other provisions included in the deal include:
• Initial funding for 10 high-tech Innovation Hot Spots across the state to incubate businesses;
• Workforce training program to link our SUNY and CUNY community colleges with employers;
• A third round of the Regional Economic Development Councils;
• Education reforms including funding for pre-k programs.
The governor said the agreement puts “the state on track to pass an on-time or early budget for the third year in a row,” which he says hasn’t happened in nearly 30 years.