Minimum Wage Increase Gains Support

New York Assembly Democrats are now backing a bill that would increase the state's Minimum Wage rate from $7.25 an hour to $9.00.

On Monday, House Republicans said they weren't too thrilled with the idea of raising the wage rate, which has been sitting steady since 2009. Senate Majority Leader Dean Skelos said in a press conference: "We saw the last time there was a minimum wage increase by the legislature that you had over 20 percent of the young people in the state actually lost their jobs."

Speaker of the Assembly Sheldon Silver fired back on Tuesday by saying "To suggest that raising the minimum wage would have a dramatic impact on our businesses and our economy is an exaggeration at best."

The battle comes down to what both parties want. Republicans was the Middle Class Tax Relief known as the STAR Property Tax Rebate Check to return. Dems say that would cost nearly $2 billion that the state doesn't have.

Could the minimum wage bill pass even if the Republicans say they will shot it down? Mainstream Democrats and independent Democrats combined hold a majority in the voting process so there is still a chance if the Dems push the measure that it will go through.

Of course, this is all apart of budget talks that will be held in private over the next two weeks. Even though private, expect each party to make a stake in public about what they want and "feel is best for you."

Our finances come down to their games, got to love politics.