As could be expected, Governor Cuomo's proposal to hike the minimum wage to $15 an hour drew opposition from business groups from across the State. While many speculated that this was his ultimate goal after circumventing the Legislature and going straight to an appointed wage board to increase the minimum wage for fast food workers, it was not expected to be proposed this soon after.

The proposal could have crippling affects on many industries and will likely cost thousands of jobs. he impact will be great on our industry, although we are still examining how great it will be. There is no doubt that this will hurt the taxpayers and local governments as well. Infrastructure is already costly in NY with antiquated laws, like the Scaffold Law, adding upwards of 10% onto construction costs. This will force these costs even higher, leaving local governments to be able to invest less in infrastructure projects like bridges, roads and public building upgrades.

We will keep you updated as we continue to examine what this proposal means to us and our industry. In the meantime, it was reported in  State of Politics that the Governor may be looking to implement tax cuts to offset his proposed minimum wage hike. Details were not given. We will keep you apprised as we learn more.