Hey New York, How Does a $15 An Hour Minimum Wage Sound [VIDEO]

If you work in New York it's possible you could be earning more per hour then in any other state. 

Gov. Andrew Cuomo has pledged for a statewide minimum wage at $15 an hour. This would be more than double the federal minimum of $7.25 an hour. According to nytimes.com, the move came Thursday as Cuomo met with Vice President Joe Biden in New York City.

There are a few wrinkles, the proposal would require legislative approval in Albany. Just six months ago, Cuomo shot down the idea for a $15 an hour the minimum for fast-food workers in the state of NY. He offered a potential compromise, at $10.50 an hour. Also if approved the hike wouldn't go into effect until 2021 for businesses outside of New York City.

The proposal is also highly controversial. Some restaurant industry groups and other business associations are not happy with the movement. They say that raising the minimum wage hurts workers by forcing employers to cut payrolls. They say many of the businesses that pay wages at or near the minimum are small, family-owned establishments that wouldn’t be able to handle the higher costs. But Vice President Biden said the administration believed that raising the wages of the lowest-paid workers would add to economic growth because those workers would spend their additional income and that spending would “ripple” through the economy.

Cuomo’s change of heart came, while stating at the convention, that New York, which he called the “progressive capital of this nation,” should lead the way in setting a minimum wage that would provide workers with a decent standard of living. Republicans in Albany do not see a $15 minimum wage as inevitable. They agreed to phase in an increase to $9 next year, from $8.75 now. They rejected Mr. Cuomo’s earlier push for $10.50. Stay tuned.

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