The New York City Council appears ready this week to reinitiate debate over a proposed law, called the Fair Wages for New Yorkers Act, that would establish a minimum wage of $10 per hour with benefits for those employees working on city government subsidized development projects. The City Council’s last hearing on this matter was in May. The proposed law would apply only to those companies receiving more than $1 million annually in city subsidies, and also would exempt those businesses generating less than $5 million in revenue a year.
Mayor Bloomberg opposes the proposed measure. He contends that it would lead to job losses as businesses subject to the act, which would boost the current minimum wage up from of $7.25, steered clear of the five boroughs. City Council Speaker Christine Quinn, who will decide whether the proposal will be voted on, has not taken a position. The proposed Act is widely supported by labor unions.
The Fair Wages for New Yorkers Act also would, if passed, require that employees who do not receive health insurance from their employer receive an additional $1.50 per hour wage supplement to help them purchase their own health insurance