LIU STATEMENT ON MINIMUM WAGE
City Comptroller John C. Liu issued the following statement on the state minimum wage:
"We commend State lawmakers on their plan to raise the minimum wage, which will help the working poor climb out of poverty while also boosting consumption. As the Governor rightly stated, an increase is long overdue. For New York City, in particular, the growing gap between rich and poor has produced grave financial consequences. A higher minimum wage will help bridge the income gap and ensure that all workers share in the benefits of our economy."
Background:
At his State of the City address in December, Comptroller Liu called for a New York City minimum wage of $11.50 an hour, to be phased in over five years and then pegged to the Consumer Price Index: http://www.comptroller.nyc.gov/press/2012_releases/pr12-12-138.shtm
Comptroller Liu's Income Inequality in NYC Report, May 21, 2012: http://www.comptroller.nyc.gov/bureaus/opm/reports/2012/NYC_IncomeInequality_v17.pdf