A proposal tied to Mayor Zohran Mamdani’s campaign promise to make New York City home to the highest minimum wage in the country is moving closer to a vote, and if it passes, the city’s wage floor would rise from $17 an hour to $30 an hour by 2030.
On FOX Business’ The Big Money Show, hosts Taylor Riggs, Brian Brenberg, and Jackie DeAngelis, joined by Larry Kudlow and David Asman, treated the plan as a looming economic mistake, warning that it could squeeze small businesses, push prices up, and speed the replacement of workers with automation.
That was the panel’s argument, and they made it forcefully. But even through the show’s sharply critical tone, it was still possible to see why a plan like this has political appeal in a city where housing, food, transit, and daily life have become brutally expensive for a huge share of working people…