THE COUNCIL OF THE CITY OF NEW YORK

PROGRESSIVE CAUCUS
250 BROADWAY
NEW YORK, NY 10007

Setting the Record Straight on the Living Wage Bill

NEW YORK, NY (March 9, 2011) – The New York Post’s editorial board has it all wrong when it comes to the living
wage bill. New York City spends billions of taxpayer dollars on so-called economic development, and how does it thank
taxpayers? By allowing companies who benefit from these subsidies to create-low-wage jobs that keep working people
mired in poverty and weaken our economy and tax base.

It’s a vicious circle: taxpayers are forced to fund more of these development projects, but those projects often create more
low-wage jobs, which don’t allow working people to earn adequate income so they turn back to government—to taxpayers
—for more public assistance. No wonder a record number of working New Yorkers—nearly 1 in 4—are currently relying
on food stamps just to be able to eat.

Contrary to what the Post argues, many of these people are adults working in low-wage sectors like retail and trying to
support families. The latest data show that retail workers contribute 60% of their families' earned income and 36% of retail
workers are their family's sole provider. In all likelihood, adults are not supporting their families with one minimum wage
job, but several. We are talking about real people who work two and three jobs just to scrape by.

The status quo is not fiscal responsibility by any measure; it’s fiscal insanity. The living wage bill would put a stop to it.

Indeed, this pragmatic legislation would ensure that taxpayer dollars are invested in good jobs that strengthen our economy
and tax base. It would establish a modest living wage standard for jobs created through taxpayer-provided subsidies. From
Los Angeles to Baltimore, cities around the country have enacted similar laws and there is no evidence anywhere that
business growth or job growth has been harmed as a result. Developers and companies continue to reap large profits even as
working people are lifted out of poverty. So businesses don’t flee: they stay where they are. We have every reason to expect
the same thing will happen right here in New York City.

Taxpayers have been paying too high a price for economic development for too long. They expect and deserve a better
return on their investment. This bill would provide just that.

Melissa Mark-Viverito Brad Lander

Co-Chair, Progressive Caucus Co-Chair, Progressive Caucus
8th Council District 39th Council District