Gov. Cuomo calls for small business tax cut, wage hike
New York Gov. Andrew Cuomo on Sunday focused on economic issues as he rolled out his 2015 agenda, including a call for the state’s minimum wage to increase to $10.50 and even higher in New York City, as well as a small business tax cut and a student loan forgiveness program.
The state’s current minimum wage is $8.75 per hour and is slated to rise to $9 at the end of the year. Cuomo’s proposal would have it rise to $10.50 by the end of 2016. The city’s minimum wage would go up to $11.50. New York City Mayor Bill de Blasio and others have wanted lawmakers to authorize local governments to set higher minimum wages.
Cuomo said the increase was important. “The wage gap is continuing to grow,” he said.