Progressive Populist: Business and the Rising Minimum Wage

 By Seth Sandronsky
Progressive Populist, Feb 1, 2020

A new year is bringing higher wages to many folks who labor for a living in America. Nearly seven million US workers out of a paid labor force of 157 million are getting minimum wage hikes in 25 states and the District of Columbia in 2020. Business for a Fair Minimum Wage, a national advocacy group, backs that hourly pay increase partly for how it can cut employee turnover and reduce the price tag to hire and train new workers.

Holly Sklar is the CEO of Business for a Fair Minimum Wage. “When looking at the impact of raising the minimum wage, it’s important to look at it from various angles, not just pay increases at businesses where there are employees affected by the minimum wage increase,” she told The Progressive Populist in an email. “Raising the minimum wage increases consumer spending. It puts money in the pockets of people who most need to spend it, increasing sales at businesses with minimum wage employees as well as others–and boosting the economy.”

Darius Ross owns D Ross Real Estate Capital Partners in New York City. “In my business, I see up close the problem of a minimum wage that’s too low,” Ross told The Progressive Populist via email. “Working people can’t afford rent, and it’s not that they don’t have paychecks, it’s that they don’t make enough.” ...

Business for a Fair Minimum Wage supports upping the federal minimum wage to $15 an hour by 2024. Federal legislation to make that happen faces stiff resistance. The Raise the Wage Act of 2019 passed the Democratic House of Representatives in 2019, but stopped after that.

Most all Democratic presidential candidates back a $15 an hour minimum wage. Polls show the public favors a higher minimum wage, too. Business for a Fair Minimum Wage support for boosting the federal minimum wage strengthens that push.

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Copyright 2020 Progressive Populist

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