 |
| Share this page
|
|
|
January 29, 2013
NJBIA: Governor
Christie Finds Reasonable Compromise on Minimum Wage
Governor Chris
Christie’s conditional veto of
A-2162/S-3 represents a reasonable
compromise that recognizes the
difficulty of raising the minimum
wage under current economic
conditions, NJBIA Assistant Vice
President Stefanie Riehl recently
said.
“The Governor has
found a reasonable compromise to a
difficult and contentious issue,”
Riehl said. “The conditional
veto recognizes that many small
businesses are struggling in this
economy and facing the daunting task
of rebuilding after Sandy and are
not in a position to absorb a 17
percent wage increase all at once.
“By phasing the
increase in over three years and
eliminating the automatic
cost-of-living increases in the
future, the Governor’s conditional
veto would provide businesses with
the time and predictability they
need to prepare for this increase.
“This opportunity
to address the issue statutorily
should also put a stop to a plan to
increase the minimum wage through a
constitutional amendment,” Riehl
said. “The constitution’s
purpose is to establish our system
of government and secure fundamental
rights. It should not be used
to institute what is effectively a
wage contract.”
Currently, the
minimum wage in New Jersey stands at
$7.25 per hour. Christie’s
conditional veto decreases the
proposed $8.50 minimum wage increase
included in A-2162/S-3 to $8.25 per
hour and phases it in over three
years, beginning March 1. The
minimum wage would increase 25 cents
this year, 50 cents next year, and
then another 25 cents 2015. The
veto would also remove a provision
of the bill that would increase the
minimum wage automatically each year
according to increases in the
Consumer Price Index.
|
|
|
|
 New Jersey Business |
 |
- Wall Street closes higher as investors ponder Fed announcement tomorrow
It's all about the Fed. Still.
Tuesday, June 18, 2013
- Fed sanctions M&T Bank, though Hudson City merger still expected to close
The Buffalo, N.Y.-based lender with plans to acquire New Jersey’s largest community bank has been ordered by the Federal Reserve Board to beef up its defenses against money laundering.
Tuesday, June 18, 2013
- Menendez bill would allow foreign money to aid U.S. commercial real estate
According to Menendez, if the borrowers who have been hurt by the economic downturn can not make the payments, commercial properties risk foreclosure.
Tuesday, June 18, 2013
- Chairman delays introduction of N.J. budget
"There's nothing to worry about," state Senate Budget Chairman Paul Sarlo (D-Bergen) said
Tuesday, June 18, 2013
- N.J. collects $3.75 million from drugmakers Ranbaxy, Amgen over separate fraud cases
Ranbaxy's settlement stemmed from a whistle-blower lawsuit filed by a former company executive who lives in Somerset County
Tuesday, June 18, 2013
|
|
|
|
|
|
|
