May 15, 2012

Statement from the Business Council on the Assembly Passage of Legislation Raising the Minimum Wage

ALBANY— "After the passage of Tier VI pension reform, a fiscally responsible budget and other business-friendly initiatives, the Assembly has taken a step in the wrong direction. Raising the minimum wage to $8.50 per hour would cost an extra $2,900 per full-time employee in 2013. It's unconscionable to place this burden on small-business owners, who are already struggling under state-imposed mandates.

"Not only would this legislation, if enacted, hurt businesses - it would have an adverse effect on the individuals that it is intended to help. Recent studies show that raising the minimum wage would result in lost jobs and a reduction in training opportunities for low-income employees.

"The Business Council strongly urges the Senate and the Governor to reject this anti-growth legislation."

-Heather Briccetti, president and CEO of The Business Council of New York State, Inc.

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