From mandated leave to minimum wage hikes, Gov. Andrew Cuomo has New York small businesses in his crosshairs.
From mandated leave to minimum wage hikes, Gov. Andrew Cuomo has New York small businesses in his crosshairs.
After weathering a three-year phase-in of a previous minimum wage increase from $7.25 to $9, New York business owners face yet another strain on their purses from Governor Cuomo’s $15 minimum wage.
Cuomo’s push for the highest minimum wage—not to mention the most expansive paid leave mandate imperils Main Street, says New York NFIB State Director Mike Durant.
“New York has the worst business/tax climate in the nation,” Durant says.
It will hurt every small business owners and others from young workers looking for work to restaurant owners and even farmers.
“This minimum wage is going to destroy the family farm in New York State,” Assemblyman Phil Palmesano said.
The wage hike—which was originally proposed to extend over a phase-in of five years—will primarily impact small businesses who struggle as it is to survive under hefty state taxes and regulations, forcing many to close their doors or lay off employees.
“The Governor’s proposal means a 67 percent increase in labor costs, largely born from the finite profit margins of thousands of small businesses across the state” Durant says. “This, considering Albany’s constant reluctance to reduce business costs dramatically, will push already struggling small businesses over the cliff.”
Durant said he appreciated some lawmakers in both the Senate and Assembly Republican Conferences for their commitment to fighting these costly measures and their work to mitigate their impact.
