Mayor Bloomberg Vetoes City Council Wage Bill

The New York City Council will have to override a veto from the mayor if they want to see their prevailing wage bill become law.

The bill would increase minimum pay to more than $20 for service workers in buildings that get city tax credits of more than $1 million.

Mayor Bloomberg Wednesday made an uncharacteristic speech before rejecting the measure. He said it would drive away businesses and stall job growth.

"It's the government's job to stand up for tax payers and for job seekers, and that leaves me no choice but to veto these bills," said Mayor Bloomberg.

Local union leaders are speaking out against the mayor's veto. They say the measure would protect workers and taxpayers.

Bloomberg said he will take the issue to courts if the city council overrides his veto.

Bloomberg has also vowed to veto a similar "living wage bill" now making its way through the council. That bill would guarantee wages of $10 or $11.50 an hour to employees of companies directly receiving city  assistance.

He said the best way to accomplish fair pay is to boost New York's minimum wage.