By Michael Gormley
Associated Press, Jan 24, 2013
ALBANY, N.Y. (AP) - New York state legislators on Wednesday began privately discussing a new way to increase the state's minimum wage after Gov. Andrew Cuomo gave the long-blocked effort a big boost in his proposed budget.
Cuomo on Tuesday proposed to increase the minimum wage from $7.25 an hour to $8.75. He didn't, however, include a provision from the Assembly's proposal that would index the wage to inflation to create automatic increases. That worried advocates for the working poor who say the buying power of a new minimum wage would quickly erode without indexing. …
Some employers support the measure.
"It probably will cost us a little more in the ripple effect, but I think it's the right thing to do," said David Bolotsky, CEO of UncommonGoods in Brooklyn, an online and catalog gift business with 100 workers making more than minimum wage. "If we pay people more, then there will be more people moving above the threshold of public assistance and that saves taxpayers money." …
"The current minimum wage is unlivable. It's only $14,616 (annually)," Cuomo said in his State of the State speech this month. Gasoline, electricity, auto insurance, food, childcare and housing typically cost a minimum of $35,000, he said.
"It does not add up," Cuomo said. "It's the right thing to do. It's the fair thing to do. It is long overdue." ...
Read more
http://finance.yahoo.com/news/york-governor-backs-minimum-wage-15213664…
Copyright 2013 Associated Press