For Release — January 18, 2015
Statement from The Business Council of New York State, Inc. on Gov. Cuomo’s proposed minimum wage increase
ALBANY, N.Y.—The Business Council of New York State is opposed to increasing the minimum wage and to establishing a two-tier system which would be extremely difficult for businesses to implement. Dramatically increasing the minimum wage in such an accelerated timeframe will create a drag on job creation at both the entry level, and in industries where wage scales are related to the minimum wage. The modest decrease proposed in the corporate franchise tax for small businesses will do little to offset the cost of the minimum wage increase, as many small businesses will not benefit from this reduction. The end result will be fewer jobs created and potential job losses that will adversely impact both small businesses and entry level workers.
- Heather C. Briccetti, Esq. President and CEO