Taxpayers to subsidize NY's higher minimum wage

The AP reports:

A hike in New York's minimum wage is a big win for Democrats, but a provision buried inside the tentative state budget shows taxpayers will be paying much of the bill. The "minimum wage reimbursement credit" is spelled out at the bottom of a revenue bill in the budget separate from the minimum wage measure. The credit would reimburse employers for part of the difference in wages from the current $7.25 minimum wage as it rises to $9 an hour by 2016.

So unaffordable it has to be subsidized.