ALBANY (October 7, 2015) – All of the following may be attributed to Mike Durant, State Director of NFIB in response to reports of a potential special session regarding the minimum wage issue.
“Small businesses across New York are reeling from three separate minimum wage increases due to be enacted at the end of the year and are directly threatened by the rhetoric of a new push to $15 an hour. Any consideration by lawmakers to hastily convene a special session for political expediency on this issue without thoroughly analyzing the impact on small employers or considering the economic impact is appalling.
Further, the simplistic idea that an increase of this magnitude can simply be traded for tax cuts shows a clear lack of understanding of the issue. Labor costs are a significant cost driver for small employers, while taxes are among many burdens businesses face in New York. There is not a fiscally amenable tax cut available to offset the cost of this minimum wage proposal. Additionally, it is doubtful any package of tax cuts or reforms is even politically feasible.
NFIB remains vehemently opposed to the effort for a statewide minimum wage increase regardless of the length of time it is phased in and strongly urge lawmakers to focus on supporting the small businesses that drive our state’s economy.”