“One of my most important responsibilities as Speaker of the City Council has been to ensure government does all it can to keep and create jobs in New York and to make sure those jobs provide people with the resources they need to support their families.

Passing the living wage law was a significant step forward in this effort–now companies who receive substantial subsidies from the city of New York for economic development have to pay at least $10.20 an hour, indexed to inflation. Critics said this would stifle economic development: well, nine months in, deals are still being struck by the City’s Economic Development Corporation at the same rate as before, but now we have ensured that the hundreds of millions of dollars spent on economic development will be used to create and retain jobs that pay a living wage. Over time, tens of thousands of jobs will be covered by this law, making it the most impactful living wage law in the nation.”