New York – Gov. Andrew Cuomo says his plan to phase in a $15-an-hour minimum wage in New York state would benefit 2.3 million workers by increasing their wages by $15.7 billion.
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The numbers come from a report issued Wednesday by the Democratic governor.
The state’s current minimum wage is $9. Cuomo wants to phase in the $15 minimum by the end of 2018 in New York City and by July 1, 2021 in the rest of the state.
Cuomo’s analysis finds that half of those making the minimum wage currently are 35 or older.
The state Senate’s Republican majority has expressed concerns about the increase. Business groups say it would lead to increased costs and hurt businesses surviving in an already difficult economic climate.
And would KILL 2.3 million businesses at the same time..
Impossible for 90 percent of average businesses to survive it. Not talking about huge companies, im talking about an average store in boropark, flatbush, or any other community area.
1000’s of layoffs…
bad for business and bad for everyone. we need gradual raise of minimum wage not jump.
Sure, make all burger flipper jobs high paying and that will really give people an incentive to get an education.