Raise in Minimum Wage for N.J. Creates Some Controversy [POLL]
We all try to look to make more money in this economy, and New Jersey may (or may not) provide some help in a raise of the state’s minimum wage.
This proposed bill passed in the state Senate recently by a vote of 23-16, and now it is up to the Assembly for the next step before it gets to Gov. Chris Christie. This bill has proposed raising the minimum wage in The Garden Sate from $7.25 an hour to $8.50 (and to have it go in effect by March 2013).
The timing of this raises some questions by some since we in N.J. are recovering from the damage of the “Superstorm” and the economy is fragile at best.
The Press of Atlantic City reports that several business owners are opposing this measure because this 17% increase in minimum wages “would lead to additional costs that would require them to curb job growth”.
Democrats are arguing that this pay increase may benefit the economy because minimum wage workers will use the money to buy products and services.
Mathematically speaking this may be a tough argument if you consider that a 40 hr. per week employee (without overtime) is still making under $18,000 annually (an increase of $2,600) and prices on many goods and services continue to rise.
Christie recently stated on this issue “No one has ever negotiated with me on the minimum wage and I’ve been begging to be negotiated with for months. I’ve continued to say on the minimum wage that I’m willing to consider a responsible minimum wage package, but let’s be clear on this now; we’ve got thousands businesses wiped (by Sandy) and is this really now the moment to say to those folks we’re going to hit you with a $1.25 increase on March 1 and a CPI beyond that?”
Could this bill be vetoed if the Assembly passes it? What do you think?