STATE:

Why NFIB

Take Action

Get Support

Stay Informed

Podcast Podcast

Careers Careers

Join Now

Home / News /

Gov. Hochul Proposes Indexing the Minimum Wage to Inflation in State of the State Address

January 15, 2023

Gov. Hochul Proposes Indexing the Minimum Wage to Inflation in State of the State Address

Last week, NFIB released the following statement by NFIB State Director Ashley Ranslow in reaction to Governor Kathy Hochul’s State of the State address and her intention to index the state’s minimum wage to future inflation: “New York’s small businesses, from Long Island to Buffalo, are dealing with continuing financial hardships. Inflation, labor shortages, supply chain disruptions, stubbornly high fuel prices, spiking utility rates, and crushing Unemployment Insurance tax rates imposed by New York State that are dragging down Main Street. Small businesses struggle to raise prices to help absorb the losses, the costs are adding up too quickly and the future remains unpredictable. NFIB urges Governor Hochul and legislative leadership to move with deliberate caution when considering any new cost drivers on small businesses, including wage mandates that will only add instability and increase financial pressure on Main Streets across the Empire State.” Subsequently, State Director Ranslow has spoken with reporters at various news media outlets, including the Albany Times Union, the Press-Republican, and the Lockport Union-Sun & Journal, underscoring that “Linking New York’s minimum wage to inflation is bound to have unanticipated consequences, including forcing employers to cut workers’ hours and price increases for goods and services that all New Yorkers, including low-income workers, purchase.”

Topics:

Uncategorized

State:

New York

Get to know NFIB

NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.

Learn More

The New York State Capitol Building in Albany, home of the New York State Assembly.

July 13, 2026

IMPORTANT! Department of Taxation and Finance Issues Notice on “Decoupling” Penalty and Interest Exemption

Guidance provides instructions on how to handle a bill for interest and penalties arising from the delayed decoupling.

July 9, 2026

New Report on New York’s Small Business Economy Released

“[S]ignificantly few New York owners reported their small businesses as being in excellent or good health compared to the U.S.”

July 9, 2026

COLUMN: Small Business Owners Should Not Be Blocked From Fixing Others’ Equipment

State Director Jim Brown urges Congress to pass the REPAIR Act.

July 8, 2026

ICYMI: NFIB’s Beth Milito Tells WWL About Efforts to Repeal Mandate That Hurts LA Small Businesses

‘Pointless’ BOI reporting requirements a burden to Main Street businesses.

Gov. Hochul Proposes Indexing the Minimum Wage to Inflation in State of the State Address

Related Articles