Today, Republican Leader of the Education and Labor Committee, Rep. Virginia Foxx (R-NC), issued the following statement after the nonpartisan Congressional Budget Office (CBO) released a report predicting devastating job loss if the federal minimum wage is increased to $15, as required by Democrat-authored H.R. 582:
“Increasing the federal minimum wage by 107 percent is a radical and unprecedented mandate. It is no surprise that the nonpartisan CBO found it would have highly detrimental impacts on workers and the U.S. economy. Specifically, the report estimates that 3.7 million jobs could be lost if the Democrat-authored H.R. 582 is enacted. That is unacceptable - one job lost is one too many.
“Congressional Democrats are scheduling H.R. 582 for a House floor vote next week which would force small businesses around the country to implement a crippling mandated wage hike. Rather than pass that misguided bill, we should advance legislation that empowers communities, creates opportunities, and opens doors for many. A look at the latest jobs report shows that pro-growth policies like the Republican Tax Cuts and Jobs Act work as wages are on the rise, jobs are being added, and unemployment is near a 50-year low.”
