03/18/2013 04:44 pm ET

New York Minimum Wage To Be Raised To $9? Cuomo, Lawmakers Reportedly Close To Deal

Governor Andrew Cuomo is reportedly close to striking a deal with New York lawmakers to raise the minimum wage to $9 per hour over the course of the next three years.

Bloomberg reports the first bump to $8 would go into effect starting in January 2014, $8.75 the following year, and eventually reach $9 in 2016.

"We have a good framework for discussion here and we’re making progress on an agreement," Assembly Speaker Sheldon Silver said in a press conference following a meeting with lawmakers and Cuomo on Monday. "Everything’s on the table.”

Cuomo proposed a hike during his annual State of the State address in January.

He urged Albany to raise New York's current minimum wage of $7.25 to $8.25, calling the proposal "long overdue."

After an initial push back from New York Republicans, who opposed legislation increasing the hourly wage, the State Senate appeared to be making progress last week with the idea of a gradual increase.

New York City Mayor Michael Bloomberg is among supporters of an increase.



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