FOR IMMEDIATE RELEASE: March 5, 2013
Contact: Joseph Ahearn, (914) 774-6856 Katz4NY@gmail.com
KATZ STANDS WITH SMALL-BUSINESS OWNERS
Assemblyman Steve Katz (R,C,I-Yorktown) voted against the proposed one-house minimum wage hike today in an effort to strengthen New York’s economy. Based on his own personal business background, coupled with statistics and studies showing the adverse effect that raising the minimum wage will have on employment, Katz decided to vote against the measure.
“As the owner of a veterinary hospital and employer of two dozen people, I know firsthand how this proposal affects the economy. This measure places an unfair burden on small businessmen who have a finite amount of capital at their disposal,” Katz said. “Small-business owners will either have to cut personnel or raise prices. This primes the inflationary spiral. New York is dead last in desirability to open a business. Adding that we have the second highest minimum wage will make us even less desirable to open a business.”
Economic studies show that an increase in the minimum wage adversely affects small businesses, which are unable to absorb the costs presented in a minimum wage hike. According to the National Federation of Independent Business, 70 percent of all job losses, as a result of a minimum wage increase, come from small businesses. A 2009 study performed by economists Joseph J. Sabia (American University) and Richard V. Burkhauser (Cornell University) demonstrated that a minimum wage increase to just $8.25 per hour would result in the loss of 28,990 jobs in the state. The bill voted on today would bring minimum wage to $9.00 per hour, and automatically increase that every year based on the Consumer Price Index, making New York State home to the second-highest minimum wage in the nation.
For more information regarding Katz and his decision to vote against the measure, please contact his district office at 845-628-3781. The assemblyman can also be reached via e-mail at firstname.lastname@example.org.