Binghamton, NY (WBNG Binghamton) The Greater Binghamton Chamber of Commerce says the negative impacts of a minimum wage hike in New York should overshadow the plan becoming a reality.
The legislation was passed Tuesday in the state Assembly. The bill changes minimum wage from $7.25 and hour to $9 an hour.
Organizers say the increase may seem like a good choice for employees, it's a bad choice for businesses Upstate New York.
"You're worried about sales that have been stagnant for almost three years and if you can't afford that labor increase. What are you going to do?" asked Mike Durant, director of the National Federation of Independent Business. "You're going to reduce hours, raise the price of goods, which you don't want to do."
"This is the real killer, we think is the inflation index," said Lou Santon, CEO of the Greater Binghamton Chamber of Commerce. "If you tie it to inflation within three, four, five years, you're really talking about a minimum wage that will be in the $10, $11, $12 category."
It's a price organizers say small businesses cannot afford. And they say it's a decision that could also increase unemployment costs.