New York’s large retailers and chain stores would be forced to share the wealth with their workers under a bill that would set a $15-an-hour minimum wage.
The current state minimum wage is $8 an hour and even President Obama is proposing only $10.10.
The firms covered would include those with annual revenues topping $50 million and all chains with at least 11 outlets nationally. Manufacturing firms and nonprofits would be excluded.
“We shouldn’t have the largest, most profitable companies be the ones that most squeeze their workers,” said state Sen. Daniel Squadron (D-Brooklyn), one of the sponsors.