House and Senate lawmakers have reached a compromise that would raise New Mexico's minimum hourly wage gradually from $7.50 to $12 an hour at the start of 2023.
A conference committee of three lawmakers from each chamber brokered the agreement Thursday to break a legislative stalemate.
The compromise proposal moves to the House and Senate for votes. Gov. Michelle Lujan Grisham campaigned on efforts to reach a $12 minimum wage, and House Democrats led by Rep. Miguel Garcia of Albuquerque also sought additional automatic future increases tied to offset inflation.
The compromise agreement would not tie future increases to an inflation index. The minimum hourly wage would rise to $9 in 2020, $10.50 in 2021, and $11.50 in 2022 before settling at $12 in 2023. Tipped worker minimum salaries would gradually rise to $3 an hour, and student minimum wage of $8.50 would take effect in 2020 without adjustments.