Small Business Owners Striking Back Against Cuomo's $15 Minimum Wage Plan
ALBANY, N.Y. (CBSNewYork/AP) -- Small-business owners are striking back against New York Gov. Andrew Cuomo's plan to implement a $15 minimum wage, which would be the highest state minimum in the country.
Business owners from around New York gathered at the Capitol in Albany on Tuesday to urge lawmakers to reject Cuomo's proposal. A vote is expected in coming weeks.
They say the wage increase would devastate the state's economy by raising prices and reducing employment.
On Monday, the governor talked about how impossible it is for people to live who are making the current minimum wage of $9 per hour.
"What at one time was a decent salary, you can't even live on anymore and then you have a child who wants to go to college," Cuomo said. "Forget it. I mean, how do you even afford it?"
Cuomo's proposal would be phased in over three years in New York City and six years upstate. He's offering some tax relief to businesses to ease the transition, though business owners say it's far too little to offset a big jump in wages.
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