LANSING, Mich., January 19, 2021 – In case you missed it, an editorial in the Detroit News on Monday detailed the severe negative ramifications of raising the minimum wage to $15, which is a current proposal of incoming President Joe Biden.
The article cited proof that such a hike in the minimum wage would cause fewer jobs, stating “In 2014, Seattle passed a $15 minimum wage, and a study a few years later found that it had directly contributed to fewer hours for workers and a reduction of 5,000 low-wage jobs”. The article continued to show the pitfalls of such a policy, stating “a recent study by the Employment Policies Institute laid out how a $15 federal minimum wage would lead to a reduction of 2 million U.S. jobs by 2027.”.
“President-elect Biden has time and again shown his inability to comprehend the most basic economics. It is clear to anyone with a rudimentary understanding of finances that a $15 minimum wage will destroy jobs and businesses.” said Michigan Republican Party Chairman Laura Cox. Cox continued, “To consider such a damaging policy at this time would stifle our economic recovery and prolong the suffering of Americans reeling from government shutdowns.”