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Fair Minimum Wage Act of 2007

Location: Washington, DC

FAIR MINIMUM WAGE ACT OF 2007 -- (House of Representatives - January 10, 2007)


Mr. CHABOT. I thank the gentleman for yielding.

Mr. Speaker, as the ranking member of the Small Business Committee, I rise in opposition to this legislation as it is being offered to us today because it does not offer our Nation's small businesses the help that they need to pay for what amounts to a tax increase. Small businesses are the backbone of our Nation's economy.

Over the last decade, small businesses have annually created 60 to 80 percent of America's new jobs; 99 percent of all businesses in the U.S. have 500 employees or fewer, and that is what constitutes a small business by definition in this country, 99 percent. We are a Nation of small businesses. Yet, we are debating a bill today that fails to take into consideration the impact such legislation could have on the bottom line of those small businesses, the most prolific job creators in our economy.

Mr. Speaker, the simple fact of the matter is that this bill increases costs for mom-and-pop businesses, the Congressional Budget Office, CBO, estimates it to be $5 to $7 billion, without providing them the opportunity to grow their business and thus create more jobs. This bill does nothing to help small businesses lower their health care costs through association health plans. It does nothing to eliminate the egregious death tax that forces the sale of so many family businesses and small farms around the country, and it does not provide incentives for small business owners to invest in and grow their businesses and thus create the jobs or the futures for the teenagers and many other people who are coming up in this country.

Mr. Speaker, our Nation's small businesses deserve better, and this House should do better. So vote ``no' on H.R. 2.


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