Debating the Fiscal Wisdom of a City 'Living Wage' Bill
A 'living wage' bill currently under consideration by the New York City Council is eliciting criticism from NYC Mayor Michael Bloomberg?s office as a threat to the city?s recovering economy. Labor unions and their supporters have argued that the bill---which would require private companies that receive city contracts or subsidies to pay their workers at least $8.10 an hour plus benefits, or $9.60 an hour without benefits---would cost the city government significantly less than the mayor and business interests allege, and would stimulate the economy. With over forty members of the City Council supporting the bill, and the mayor?s office indicating that it would not be ?unreasonable? to expect a veto if the bill was passed, the issue is set to become one of the first major confrontations between Mayor Bloomberg and the City Council.