• Home
  • Latest
  • Coins2Day 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
FinanceNew York

Christmas treat for New York legislators who award themselves 29% salary rise, making them the best-paid in U.S.

By
Maysoon Khan
Maysoon Khan
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Maysoon Khan
Maysoon Khan
and
The Associated Press
The Associated Press
Down Arrow Button Icon
December 23, 2022, 5:46 AM ET
New York Senate Majority Leader Andrea Stewart-Cousins
New York Senate Majority Leader Andrea Stewart-Cousins.Michael M. Santiago—Getty Images

Just in time for Christmas, New York legislators returned to the state capital Thursday to give themselves a nice holiday gift: a pay raise that would make them the nation’s best-paid state lawmakers.

Members of the state Assembly and Senate would make a base salary of $142,000 under a bill they passed during a special session, a 29% raise over their salary of $110,000.

That would send them racing ahead of state lawmakers in California, who are now the nation’s best-paid legislators with a yearly base pay of about $119,000, according to the National Conference of State Legislatures.

New York’s lawmakers, however, would also face restrictions for the first time on how much they can make from other jobs.

Outside income would be capped at $35,000, starting in 2025. Pay in excess of that from military service, retirement plans or investments would still be allowed.

Senate Majority Leader Andrea Stewart-Cousins, a Democrat, said legislators work hard, year round, and deserved a raise to cover the increased cost of living.

“It’s a full time job,” she said. “Sooner or later in order to be able to afford to do the job, we have to raise pay.”

Senate Republican Leader Rob Ortt said he found the raise “patently offensive to the people we represent.”

“Albany’s One Party Ruling Class continues to put their own misplaced priorities first,” Ortt said in a statement.

Gov. Kathy Hochul, a Democrat, has said she supports the idea of a raise for the Legislature, but hasn’t said whether she would sign the bill. Email and text messages left for the governor’s office weren’t immediately returned.

Some government transparency and watchdog groups said after the bill was introduced late Monday that it doesn’t do enough for regulating outside income.

“The public really deserves to know that their elected officials are working just for them and they don’t have any other interests in mind,” said Rachael Fauss, a senior policy advisor at the government watchdog group Reinvent Albany.

Members of the U.S. Congress, for example, are excluded from making any outside income while they are in office from certain professions that could pose conflicts of interest, such as being a lawyer.

Outside income has posed ethical and legal problems for some of New York’s top lawmakers.

Former Assembly Speaker Sheldon Silver died in prison after he was convicted of entering into a corrupt arrangement in which he got a pair of real estate developers to send business to a law firm paying him referral fees, and then backed legislation benefiting the developers.

Still, many states have a tradition of lawmaking being a part-time job, rather than a profession, and embraced the idea that a legislature should be made up of regular people with regular jobs outside of government.

“When I campaigned, I heard over and over again from voters that we don’t want career politicians. That’s what this is going to create,” said Assemblymember Mary Beth Walsh, a Republican who represents a district north of Albany.

Assemblywoman Patricia Fahy, a Democrat, said the raise would help the Legislature retain quality members who could make more in the private sector.

“We have had an unhealthy churning and turnover particularly from downstate members,” she said.

New York’s legislators got their last pay raise in 2018. At the time, it was their first raise in 20 years.

That pay boost was made possible through a list of recommendations made by a state compensation committee, but a cap on outside earnings was never implemented.

“There’s a history in New York that looks at pay increases for legislatures, but this is the first time they are taking matters into their own hands,” Fauss said.

Our new weekly Impact Report newsletter examines how ESG news and trends are shaping the roles and responsibilities of today's executives. Subscribe here.

About the Authors
By Maysoon Khan
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Coins2Day Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Coins2Day Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Coins2Day Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Coins2Day Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Coins2Day Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Coins2Day Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Coins2Day Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Coins2Day Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Coins2Day Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Coins2Day Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Coins2Day Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Coins2Day Editors
October 20, 2025
Rankings
  • 100 Best Companies
  • Coins2Day 500
  • Global 500
  • Coins2Day 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Coins2Day Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Coins2Day Brand Studio
  • Coins2Day Analytics
  • Coins2Day Conferences
  • Business Development
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Coins2Day
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

© 2026 Coins2Day Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Coins2Day Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.


Most Popular

placeholder alt text
Europe
Denmark offered to trade Greenland to the U.S. in 1910—and America thought it was crazy
By Steven Lamy and The ConversationJanuary 22, 2026
3 days ago
placeholder alt text
North America
Gates Foundation plans to give away $9 billion in 2026 to prepare for the 2045 closure while slashing hundreds of jobs
By Sydney LakeJanuary 23, 2026
2 days ago
placeholder alt text
Personal Finance
Sweden abolished its wealth tax 20 years ago. Then it became a 'paradise for the super-rich'
By Miranda Sheild Johansson and The ConversationJanuary 22, 2026
3 days ago
placeholder alt text
Economy
'Some form of crisis is almost inevitable': The $38 trillion national debt will soon be growing faster than the U.S. economy itself, watchdog warns
By Nick LichtenbergJanuary 22, 2026
3 days ago
placeholder alt text
C-Suite
Jamie Dimon’s reality check for ambitious workers: ‘There’s going to be a grunt part to every part of a job. Get over it’
By Jake AngeloJanuary 23, 2026
2 days ago
placeholder alt text
Energy
Elon Musk warns the U.S. could soon be producing more chips than we can turn on. And China doesn’t have the same issue
By Sasha RogelbergJanuary 22, 2026
3 days ago

Latest in Finance

EconomyTariffs and trade
Days after saying ‘it’s a good thing’ for Mark Carney to sign a trade deal with China, Trump vows a 100% tariff on Canada for doing so
By Jason MaJanuary 24, 2026
16 hours ago
NewslettersDonald Trump
President Donald Trump is acting like the CEO of USA Inc. Is it the strategy America needs?
By Alyson ShontellJanuary 24, 2026
16 hours ago
pulte
Real EstateHousing
From $40 billion to $225 billion: Inside the Trump housing plan to radically change the mortgage bond buying plan
By Brian Slodysko and The Associated PressJanuary 24, 2026
18 hours ago
Meta CEO Mark Zuckerberg in Menlo Park, California on Sept. 17, 2025. (Photo: David Paul Morris/Bloomberg/Getty Images)
AIData centers
Why Meta is positioning itself as an AI infrastructure giant—and doubling down on a costly new path
By Sharon GoldmanJanuary 24, 2026
19 hours ago
SuccessGen Z
Meet a 23-year-old electrician who was a ‘good student’ but skipped college to join Gen Z’s blue-collar revolution. He makes 6 figures
By Nick LichtenbergJanuary 24, 2026
19 hours ago
A woman stands in a target with her fist in the air. A man behind her holds an "Abolish ICE" sign.
RetailTarget
Target faces new backlash amid Minnesota ICE raids after boycotts over its DEI rollback. But don’t blame politics for falling profits, analyst says
By Jacqueline MunisJanuary 23, 2026
1 day ago