Blog: ‘Yea or nay’ on raising minimum wage?
NEW YORK — State senators in New York are pushing legislation to increase the minimum wage along with another change. A recent press release stated that legislation supported by the Democratic Conference here would raise the minimum wage to $9 an hour and also index future increases with the rate of inflation.
According to State Senator Cecilia Tkaczyk, the increase would be beneficial to women with small children, and it would have an overall positive effect on the economy.
Tkaczyk said in the release: “Even those who can work 40 or more hours each week are living below the federal poverty level and are struggling to provide their families with decent housing, clothing and food.”
While an increase would help workers, how would it impact small businesses? Tkaczyk explained, “Additionally, increasing the minimum wage will help small businesses and the local economy, because when working people have more money to spend, they spend it right in the community on basic necessities like housing, food and clothing. The increased demand helps small, local businesses earn greater profits and create more jobs.”
As carwash owners, how do you think this type of increase would impact the industry? In the car care business, would the possibility of more business balance out with the higher labor costs? How would you counteract higher costs for employees?
Please feel free to respond in the comment section below.