By Seth Sandronsky
MultiBriefs, July 19, 2019
On July 18, the majority-Democratic House of Representatives passed the Raise the Wage Act to gradually increase the federal minimum wage, now at $7.25 and unchanged since 2009, to $15 in 2025. Some Republican House members did cross party lines to vote to increase the federal minimum wage. ...
Yet, Business for a Fair Minimum Wage supports increasing the federal minimum wage. One member of this coalition is Margot Dorfman, CEO of the U.S. Women’s Chamber of Commerce.
"Raising the minimum wage to $15 will be a win-win for businesses and workers," she said in a statement. "It will help small businesses like my members by putting more money in the pockets of customers — boosting consumer demand and job creation."
According to Dorfman, the businesses that do pay low wages, such as the current $7.25 federal minimum, "may save on immediate payroll, but they experience the significant expense of higher turnover, low morale and a less productive workforce."
What are the prospects for the Senate approving the Raise the Wage Act? ...
"We hope for the sake of our economy and businesses across this country that Sen. McConnell reconsiders his misguided opposition," Holly Sklar, head of Business for a Fair Minimum Wage, told MultiBriefs in an email. "We all need to remember that working people are also customers. Increased pay means increased consumer buying power."