Bloomberg (06/08/12) Terrence Dopp
New Jersey Gov. Chris Christie has indicated he will not sign a measure to boost New Jersey’s minimum wage, citing concern over a provision requiring annual adjustments for inflation. The measure–which passed the Assembly in May and is pending in the Senate–would raise the hourly wage floor to $8.50 from $7.25.
“We’re telling small-business owners that not only are we going to raise their costs by a buck and a quarter, but we’re also going to raise it with these cost-of-living adjustments,” says Christie. “Here’s what’s going to happen–they’re going to have to lay people off.”