According to a report released Friday, New York’s proposal to increase the minimum wage to $15 an hour could cost state school districts $276 Million. “The increased costs will have a profound financial impact on schools, directly resulting in higher taxes. Currently the state minimum wage is $8.75 an hour. Cuomo first announced the proposed increase Sept. 10. The plan is to gradually bring the minimum wage to $15 in New York City by 2018 and statewide by 2021.” Florida and Massachusetts join New York in considering a $15 minimum wage.
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