Nearly 500 Small Businesses Urge Congress to Raise the Minimum Wage
“Raising the minimum wage is a powerful way to boost the economy because it puts money in the pockets of people who most need to spend it.”
WASHINGTON – A coalition of nearly 500 businesses – including mom-and-pop small businesses, restaurants, large retailers, and manufacturers – have signed a statement urging Congress to pass the Raise the Wage Act of 2021, which would gradually raise the federal minimum wage to $15 by 2025.
“We can’t build a shared recovery and strong economy on a minimum wage that’s too low to live on. Workers are also customers…Raising the minimum wage is a powerful way to boost the economy because it puts money in the pockets of people who most need to spend it,” the business owners wrote.
“Fair pay is good business. Low pay typically means high employee turnover. Raising the minimum wage pays off in lower turnover, reduced hiring and training costs, fewer errors, increased productivity, and better customer service.”
According to an independent analysis conducted by the Economic Policy Institute, the Raise the Wage Act would increase wages for nearly 32 million Americans, including roughly a third of all Black workers and a quarter of all Latino workers. More than half of those who would benefit would be women.
To read the statement, click here.
For fact sheet on Raise the Wage Act, click here.
For the section-by-section of the Raise the Wage Act, click here.
For the bill text of the Raise the Wage Act, click here.
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