ALBANY, NY. - New York State Legislature is considering a bill that would raise the minimum wage to more than $20 by 2026, a move that could significantly impact the lives of millions of workers in the state. If approved, the Raise the Wage Act would gradually increase the current $15/hour minimum wage over the next three years and then index it annually to match inflation.
According to the Economic Policy Institute, this bill's approval would result in a $3,000 increase in wages for approximately 3 million workers across the state. This is a significant boost to the income of low-wage workers, many of whom struggle to make ends meet in a state with a high cost of living.
Alissa Barron-Menza, VP of the group Business for a Fair Minimum Wage, lauded the proposal, stating how raising the minimum wage could decrease private company employee turnover, leading to reduced hiring and training costs, fewer errors, and better productivity.
When we raise the minimum wage, that pays off for businesses," she added.
While some opponents have raised concerns that raising the minimum wage could encourage people to continue earning minimum wage, the New York Business for a Fair Minimum Wage statement was signed by more than 200 businesses and business organizations supporting the bill.
Small business owners, like Johanna Dominguez, who owns Buffalo's Put a Plant On It plant store, support the move. Dominguez believes that increasing the minimum wage can help employees remain satisfied...
The Dangote Group has denied claims that its President, Aliko Dangote, is at odds with Tony Elumelu, describing the report as false, malicious and baseless. In a statement signed by its Group Chie...