ATR & COGC Urge Senators to Vote NO on S. 2223, the Minimum Wage Fairness Act

After recess, Senate Majority Leader Harry Reid (D-Nev.) has committed to voting on a bill to raise the minimum wage by filing cloture on Monday for S. 2223, the Minimum Wage Fairness Act. The vote for S.2223 will be on Wednesday and Americans for Tax Reform and Cost of Government Center remain opposed to the bill:  

Americans for Tax Reform and its Cost of Government Center urge all Senators to vote NO on S. 2223, the Minimum Wage Fairness Act.

S.2223 endangers the labor market and threatens the fragile economy by increasing the minimum wage in three steps. While politicians argue an increase in the minimum wage would improve Americans' fiscal conditions, academics, economists and even President Obama's own advisors warned an increase in the minimum wage will harm workers and kill jobs.

The bill will raise minimum wage to $10.10 and hike the minimum for tipped wages to 70 percent of the normal rate. The Congressional Budget Office has estimated this will destroy anywhere from 500,000 to 1 million jobs. CBO has also stated that an increase would cause other distortions that harm workers – employers will look elsewhere to compensate for higher labor costs, potentially by reducing other job benefits or by raising the costs of goods.

Increasing the minimum wage is bad policy, and will be particularly harmful at a time when the American worker is still struggling to make ends meet. Taxpayers deserve better. We urge all members of the United States Senate to vote NO on S. 2223, the Minimum Wage Fairness Act.

To read the full alert, click HERE.

 

TAGS: BIGSTORY, TAKEACTION, issues

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