Assemblyman N. Nick Perry today announced his staunch advocacy and support for legislation introduced today to increase New York States minimum wage to $9.00 per hour a full year ahead of schedule and index future increases to inflation (A.8343).
A higher minimum wage helps everyone, from workers to businesses, said Assemblyman Perry. Putting more money into the pockets of those most likely to spend it increases demand for products, and in turn, jobs. Statistics back up this claim. Ten states already index their minimum wage to inflation, and those states have reported positive economic results high rates of growth in companies, job creation and payroll. Higher, fairer wages also result in better worker productivity and less worker turnover.
Last year, the Assembly passed a law to increase the minimum wage to $8.00 per hour starting on Dec. 31, 2013, and to subsequently increase it to $8.75 per hour at the end of 2014 and $9.00 per hour on Dec. 31, 2015. The legislation introduced today would require the full increase to $9.00 per hour to take effect on December 31, 2014, a full year in advance, and would tie future increases to the annual rate of inflation according to the Consumer Price Index (CPI).
Waiting two more years to earn $9.00 an hour is a long time, said Assemblyman Perry. Its a long time to try and support a family on wages that leave a worker below the poverty line. Its a long time to agonize over how to afford prescription drugs and heating costs while still putting food on the table. Its a long time to worry about how to pay the rent or mortgage on a full-time salary of less than $17,000 per year. Simply put, its too long for hardworking families of the 58th Assembly District to wait.
The new legislation would also benefit food service workers by increasing the cash wage to $5.50 per hour immediately, to $6.20 per hour on Dec. 31, 2014, and by subsequently tying the cash wage to annual inflation. Moreover, the bill requires a wage board to conduct a review to ensure that cash wages are adequate to protect the health and livelihood of all workers in the hospitality industry.
The state of California recently increased its minimum wage to $10 an hour, while New Jersey voters approved a measure to increase its minimum wage and index future increases to inflation.