As NYC Considers a $30 Minimum Wage, Business Owners Are Warning About the Consequences

New York City stands to make a decision about its minimum wage that can only hinder growth, create layoffs, and result in price hikes.

City Council recently introduced a bill to set the minimum wage at $30 per hour. Democratic City Councilwoman Sandy Nurse put the “$30 for Our City” legislation forward, WPIX reported on Tuesday.

The outlet laid out the wage hike scheme from the bill.

Businesses and franchises that employ more than 500 people must pay $20 an hour in 2027, $23 in 2028, $26 in 2029, and $30 by 2030.