NFIB Response to $15 Minimum Wage Proposal

Date: September 10, 2015

ALBANY (September 10, 2015)  – All of the following may be attributed to Mike Durant, State Director of NFIB in response to the announced push for a statewide minimum wage of $15.00
“Today’s announcement of a new push for a statewide minimum wage of fifteen dollars is an affront to small employers in every corner of this state.   The continued efforts to increase the minimum wage ignores the value of small business to New York’s economy, especially upstate, and undermines most of the economic efforts by Governor Cuomo over the last five years.   Today’s event is a perfect example of the dichotomy between Corporate America and Main Street being ignored with public policy and awkwardly merged together in political rhetoric.
 
Arbitrarily increasing labor costs absent the consideration of the fiscal and regulatory reality small employers face in New York will lead to employment loss.  The nonpartisan Congressional Budget Office has publicly stated that a national increase of the minimum wage to $10.10 would ultimately lead to approximately 500,000 Americans losing their jobs.  The proportional impact of job loss with a fifteen dollar wage would be substantial nationally, and potentially devastating in a high cost state like New York. 
 
Additionally, a dramatic escalation of the minimum wage to fifteen dollars an hour will have a significant impact on New York’s taxpayers.  From municipalities and school districts to nonprofits, this proposal will ultimately impact the bottom line of every New Yorker.  
 
We strongly urge the Governor to reconsider venturing down this unprecedented path and to put forth efforts to comprehensively help and promote small business, rather than threaten their present and future.”

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