New York City Eyeing $15 Minimum Wage

The nation’s largest city may raise the minimum wage to $15 an hour for companies with yearly sales of $50 million or more.

The state passed a higher minimum wage that took place at the beginning of this year, rising to $8 an hour this year and $9 by 2015. The $15 wage would apply to chain stores and restaurants with at least 11 locations nationwide. While manufacturers would be exempt, those involved in transportation such as airport subcontractors would be covered. The lawmakers estimate that at least 120 chains in the city would be impacted. The wage would also be indexed to inflation, rising automatically as prices rise.
Daniel Squadron (D), who proposed the bill, said that while he supports raising the wage for everyone, it makes sense to target big chains. “These aren’t those small businesses that are just barely getting by,” he said at a news conference.

By: Alan

Alan Colmes is the publisher of Liberaland.