Gov. Andrew Cuomo will give his State of the State address this week, and he's expected to include plans for a tax cut and a hike in the minimum wage.

The state's minimum wage is currently at $8.50 per hour. The governor's plan would raise that to $10.50 starting next January, and $11.50 in New York City, where the cost of living is the highest in the state.

If the minimum wage plan is approved, it would place New York's rate among the highest in the country. The move would be aimed at helping low-income earners who are living paycheck to paycheck.

However, some business owners on Long Island say they're already having trouble making ends meet, and that a rise in the minimum wage would be an added expense they simply can't afford.

The wage plan is not expected to get a warm reception from the Republican-led state Senate. But Cuomo will also propose a plan in his address that is expected to appeal to the Republican caucus: a tax cut for businesses.

Cuomo is expected to lay out the details of his plans in his speech Wednesday. News 12 Long Island and News12.com will have live State of the State coverage.