By Holly Sklar, CEO and Alissa Barron-Menza, Vice President
Business for a Fair Minimum Wage, February 24, 2021
We are currently experiencing the longest period without a federal minimum wage increase since it was first enacted in 1938 to help our nation recover from the Great Depression. Business for a Fair Minimum Wage supports raising the federal minimum wage to $15 by 2025, as called for in the Raise the Wage Act of 2021, using the same federal phase-in timeline for businesses of all sizes.
The federal minimum wage was created to provide a strong national wage floor. We oppose any efforts to introduce new complexity and inequity into minimum wage law by setting different federal minimums for small businesses or different areas of the country. This would lock in lower incomes and lower consumer spending in lower-income regions – counter to the purpose of the federal minimum wage. It would hurt small businesses – not help them.
Small businesses using lower minimum wage rates would have a harder time hiring and retaining employees, and see an increase in costly turnover. Lower minimum wages for small businesses would undermine the customer service that helps keep small businesses competitive. ...
READ THE REPORT PDF ATTACHED HERE: