Should New York Raise the Minimum Wage?

New York State Assemblyman ., I-Sag Harbor, is co-sponsoring a bill that would bump the state minimum wage up to $8.50 an hour, the third-highest rate in the U.S.

The new rate would take effect Jan. 1, 2013, then, under the proposed legislation, the minimum wage would rise annually by the rate of inflation.

For food-service workers who receive tips, the rate would increase from $5.00 to $5.86 per hour in 2013.

The New York State Legislature most recently increased the state minimum wage in 2007, to $7.15. But that was superseded in July 2009, when the federal minimum rose to $7.25.

"We must increase the minimum wage so lower-income families aren't forced to choose between everyday necessities like rent, heat, gas, food and prescription drugs," Thiele said. "Raising the minimum wage would also help our local economy by putting money in the hands of people most likely to spend it. This measure will create jobs, not kill them. It's time to get this done for hardworking East End families."

Should the minimum wage be increased? Do you agree with Assemblyman Thiele? Leave a comment below to explain why or why not.

Recent history of the New York State minimum wage:

$4.25 on and after April 1, 1991
$5.15 on and after March 31, 2000
$6.00 on and after January 1, 2005
$6.75 on and after January 1, 2006
$7.15 on and after January 1, 2007