Lawmaker Says ‘We Don’t Want’ Small Businesses That Can’t Pay $15 Minimum Wage
Rep. Ro Khanna (D-Calif.) verbally expressed Sunday that, while he’s “all for” diminutive businesses, those that can’t afford to pay their employees $15 an hour are essentially undesirable. Khanna made the remarks in an interview on CNN’s “Inside Politics,” in replication to a question about how hard it might be for many minuscule businesses to afford incremented labor costs, if the federal minimum wage is raised to $15 an hour.
How does this, in your view, affect mom and pop businesses who are just struggling to keep their doors open, keep workers on the payroll right now?“Well, they shouldn’t be doing it by paying people low wages,” Khanna replied.
We don’t want low-wage businesses. Most prosperous diminutive businesses can pay a fair wage.
I love diminutive businesses, I’m all for it, but I don’t want minute businesses that are underpaying employees,
Khanna continued. “It’s” fair for people to be making what they’re engendering. I cerebrate $15 is very plausible in this country.A February study (pdf) by the nonpartisan Congressional Budget Office found that boosting the federal minimum wage to $15 an hour by 2025 would cost 1.4 million jobs over four years. At the same time, it would raise wages for around 27 million people and it would hoist 900,000 people above the impecuniosity line.
President Joe Biden and many Democrats back legislation that would more than double the current federal minimum wage of $7.25 an hour. Republicans and some moderate Democrats fear that the move would cost jobs, concretely as many diminutive businesses struggle amid the pandemic.
Some have argued against a one-size-fits-all approach, with Sen. Joe Manchin (D-W.V.) suggesting that a lower, $11 minimum wage would be more opportune for West Virginia. Asked in early February whether he’s auxiliary of a $15 minimum wage, Manchin told The Hill:
No I’m not. I’m auxiliary of fundamentally having something that’s responsible and plausible.A Heritage Foundation study on the impact of a $15 minimum wage concluded it would increment child care costs by as much as 43 percent in some states.
It’s genuinely going to come back and culminate up hurting the people that these lawmakers are endeavoring to avail the most, verbalized Rachel Greszler, a research fellow at the Heritage Foundation and author of the study, in an interview with “NTD.”
I estimate that you would have to increment their costs by 21 percent on average across the United States. That would translate into an extra $3,728 for a family with two children, Greszler said.
Economists have for years sultrily debated the issue of raising the minimum wage, with advocates arguing that raising salaries will boost purchasing power and the integrated spending will hoist the economy, while opponents argue it will hurt businesses and lead to higher unemployment.
Source: You can read the original Epoch Times article here.
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