Ruben Diaz Jr. On Living Wage Deal
January 13th, 2012

Council Speaker Christine Quinn has decided to back a compromise legislation on the living wage that according to the Wall Street Journal would require, “businesses that receive subsidies of $1 million or more will be required to pay their employees $10 an hour with benefits or $11.50 an hour without benefits. But in a compromise, the bill will no longer require the tenants who move in after these projects are completed to also abide by the higher wages.”

Bronx Borough President Ruben Diaz approves of the deal and he released this statement:

I am extremely happy that we have reached a deal on the Fair Wages for New Yorkers Act, and that this important bill will finally see a vote in the City Council. The deal we have reached today creates the strongest living wage legislation in the nation, one that will demand that direct recipients of significant taxpayer subsidies will do better by their employees. This will guarantee that happens and marks an important shift in the economic development policy in the City of New York. This bill sends an important message to the business community. Indeed, New York City is open for business, but not at the expense of the taxpayer.

I would like to thank Speaker Quinn for working closely with my office on this compromise. I would also like to thank City Council members G. Oliver Koppell and Annabel Palma, all of our City Council co-sponsors, and the entire Living Wage NYC coalition for their strong advocacy on this legislation.

This bill will ensure that taxpayer subsidies are spent not only to enrich developers, but to improve the quality of life of their employees. Todays announcement is a victory for the people of this City, and I look forward to this legislation becoming law, said Bronx Borough President Ruben Diaz Jr.

By on January 13, 2012, 3:25 pm
In category: City Hall,Economy,Work and Labor | 3 Comments »

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3 Responses to “Ruben Diaz Jr. On Living Wage Deal”

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