Assembly Speaker Sheldon Silver is advancing a plan to accelerate the full implementation of New York’s increased minimum wage by one year. Silver, who first championed the latest minimum wage increase in 2012, will introduce new legislation to increase the minimum wage to $9 an hour by December 31, 2014, a full year ahead of schedule, and tie future increases to the rate of inflation.

"New York’s hardworking men and women are struggling and they cannot afford to wait two more years for a decent raise," said Silver. "Poverty is not a fair reward for those who work a full-time job. We must do more to ensure that those who work hard for a living are able to make ends meet. Speeding up the implementation of the higher minimum wage is the right thing to do."

"Boosting the minimum wage here in New York to $8 an hour is a start, but we can and should do more. This is why I am joining with Speaker Silver and my colleagues in the Assembly Majority to support legislation that would speed up the three-part minimum wage increase – to $9 an hour – by one full year," said Assemblyman Carl Heastie, chair of the Labor Committee. "We must do everything we can to bring New Yorkers the reality of a more livable and fair minimum wage. This legislation brings us closer to achieving that goal."

Silver noted the Assembly originally passed legislation in March to increase the minimum wage to $9 an hour on January 1, 2014 and then index it to adjust for inflation according to the Consumer Price Index (CPI).

"Had the federal minimum wage kept up with inflation, workers would be making more than $10 an hour, so accelerating the implementation of the new minimum wage law is both reasonable and fair," said Silver, noting that 10 states already annually increase their minimum wage to keep up with the rising cost of living.

The state of California recently increased its minimum wage to $10 an hour, while New Jersey voters approved a measure to increase its wage and index future increases to inflation.