Kerry: Minimum Wage Hike is Good For Small Business Growth
Today Senator John Kerry (D-Mass.), Chairman of the Committee on Small Business and Entrepreneurship, released the following statement on how the minimum wage increase not only boosts workers, but small businesses, too. A Gallup poll conducted last year found that 86 percent of small businesses would not be impacted by an increase in the minimum wage.
"In order for America to remain truly competitive in a global economy, we must invest in our workforce to stimulate small business growth. Small businesses create two-thirds of all new jobs in this country, and the vast majority of them are paying their new workers higher than the minimum wage.
"It's no secret that good wages result in increased productivity, ultimately improving a firm's bottom line and economic development in their community. In fact, the last time Congress raised the minimum wage, our country experienced the strongest economic growth in decades. We saw lower unemployment, lower poverty rates, and lower inflation.
"Small businesses get it. By raising the minimum wage, we're creating a prosperous future for our small businesses, their workers and their families."