Cox Against Wage Hike

NYGOP Chair Ed Cox issued the following statement Tuesday on Gov. Cuomo’s proposed minimum wage increase:

“As is often the case with Andrew Cuomo’s propositions, the proposed minimum wage increase is good politics for the Governor, but bad policy for New Yorkers.

“Everyone likes the sound of higher wages, but a higher minimum wage means a higher hiring cost for businesses, and a higher hiring cost means fewer jobs, especially for lower-income youths, for whom a job represents the first rung on the ladder to being a self-sufficient and contributing member of society.

“According to the Wall Street Journal, raising the minimum wage is bad for jobs and the economy generally, but without an exception for a ‘training wage’ for the young, it is an immoral disaster, especially for minority youths, whose unemployment rate is close to 40 percent.”