Call to Action! Lawmakers Pushing $21+ Minimum Wage in New York

April 4, 2023 Last Edit: June 5, 2025

Call to Action! Lawmakers Pushing $21+ Minimum Wage in New York

Can you afford $21+ per hour? Proposals being discussed in Albany RIGHT NOW to drastically hike the minimum wage could lead to significant job losses, income reductions, and closures for small businesses across New York, according to a newly released economic study commissioned by NFIB. If these bills become law, approximately 128,000 jobs, or more than 1% of the state’s employment base, would be lost in the next ten years. Additionally, the cumulative real economic output loss would exceed $19 billion by 2023. Many small businesses will not be able to afford these higher wages and the payroll taxes that accompany them. Projections show the small business community will be disproportionately affected by this legislation, suffering 65% of total job loss, as well as shouldering 60% of economic output loss. New York State should be providing financial relief to small, independent businesses. Instead, they are again proposing increased costs and mandates for Main Street. Legislators are discussing up to a 40% minimum wage increase this week. Tell your legislators you CANNOT afford any minimum wage increase!

Topics:

Taxes

State:

New York

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