NJ governor, lawmakers make deal on $15 minimum wage

NEW JERSEY (AP) - By MIKE CATALINI
Associated Press

TRENTON, N.J. (AP) -- New Jersey Gov. Phil Murphy and the Democratic leaders of the Legislature say they've reached a deal to raise the state's minimum wage to $15 an hour by 2024.

The Democrats announced the deal Thursday in a statement. If the proposal is enacted, it would raise the current rate from $8.85 to $10 by July 1.

It would then climb by $1 a year until reaching $15 in 2024.

The agreement represents the fulfillment of a Murphy campaign promise that eluded him during his first year, despite full Democratic control in the state.

Murphy says the deal is "historic" and will help about 1 million residents.

New Jersey would join a handful of states, including California, Massachusetts and New York, in phasing in a $15 hourly wage.