NEW York lawmakers are scheduled to vote on Friday, April 1 on a proposal that would increase the state’s minimum wage to $15 per hour.
If approved, New York would become the first state in the nation to enact such a wage for all workers.
A coalition of low-wage workers, immigrant activists, unions and other progressive groups called the Long Island Fight for $15 is among those fighting to raise the minimum wage from the current $9 per hour.
In a blog by editors of The New York Times called Taking Note, a post by editor Teresa Tritch, who specializes in tax, finances and economics, argues in favor of the wage hike. The piece cites a recent study by the Institute for Research on Labor and Employment (IRLE) at UC Berkeley, which found that setting the minimum to $15 an hour would “be very positive.”
Researchers also found that 3.16 million workers would benefit if the proposal goes through, with the annual pay increasing by an average of 23.4 percent. Furthermore, the cost absorbed by employers would be offset by labor efficiencies like increased worker productivity, according to the study.
On the opposing side includes the editorial team of the New York Post, which cited the impact of $15 per hour minimum wage raise is having on Seattle. The Washington city passed its wage hike law in 2014 and began boosting hourly pay from the state’s minimum of $9.32 to $10 and $11 for certain businesses. On Jan. 1, 2017, hourly wages will go up to $12, $12.50 and $13 for the majority of employers.
A report from the American Enterprise Institute, cited by the Post, found that Seattle experienced the largest employment drop in any nine-month period since 2009. The publication further pointed out that the city’s loss of 10,000 jobs from September to November last year, a record for any three-month period since 1990.
While a decision has yet to be made for the state, Mayor Bill de Blasio announced a $15 minimum for New York City government employees and workers who provide contracted work for the City at social service organizations. By the close of 2018, nearly 50,000 employees will see an increase in their wages.
Not too far from New York, Jersey City, New Jersey — which is home to about 16,200 Filipinos reside — will become the first municipality to increase the minimum wage to $15 for city workers, Inquirer reported on Friday, March 18. This will affect more than 500 city employees.
“Not only is this the right thing for Jersey City, but it’s my hope that our actions today will help move Trenton towards providing all New Jerseyans a living wage,” Jersey City Mayor Steven Fulop said in a press release.
New York millionaires say they can pay more taxes
Separately, earlier this week, a group of more than 40 millionaires, including members of the Disney and Rockefeller families, requested to have their taxes raised to address poverty and deteriorating infrastructure.
“We can well afford to pay our current taxes, and we can afford to pay even more,” the group wrote in a letter to New York Gov. Andrew Cuomo and other state lawmakers.
New Yorkers who make $1,062,00 are subject to an 8.82 percent tax rate. The proposal would maintain that rate for those who make between $1 million to $2 million, while progressively increasing taxes for millionaires with higher incomes.
Individuals making between $2 million to $10 million, $10 million to $100 million and more than $100 million would be subject to higher rates of 9.35 percent, 9.65 percent and 9.99 percent, respectively.
“As New Yorkers who have contributed to and benefited from the economic vibrancy of the state, we have both the ability and the responsibility to pay our fair share,” the millionaires wrote.
The proposal faces hurdles in the state legislature, with the Republican-dominant Senate against it and Democrat-led Assembly planning to raise taxes on millionaires. Legislators hope to come to an agreement on a state budget by April 1. (Agnes Constante/AJPress)
