Minimum wage job-loss report is fodder for Republicans

Boosting the minimum wage may cost as many as 500,000 people their jobs, said a new report from Congress’s financial scorekeeper that diminishes chances for an agreement on one of President Barack Obama’s priorities. More

To continue reading this article, please do one of the following.



politics

Minimum wage job-loss report is fodder for Republicans

Posted 2/19/14

WASHINGTON – Boosting the minimum wage may cost as many as 500,000 people their jobs, said a new report from Congress’s financial scorekeeper that diminishes chances for an agreement on one of President Barack Obama’s priorities.

The effort by Obama and Senate Democrats to raise the minimum wage to $10.10 an hour already faced opposition in the Republican-led House. Yesterday’s report from the Congressional Budget Office provided more fodder for Republicans who have been arguing the proposal would kill jobs.

“This is going to give some angst to Democrats,” said former Rep. Bart Stupak, a Michigan Democrat.

The report also showed that raising the minimum wage from $7.25 an hour may lift about 900,000 Americans out of poverty, supporting Democrats’ arguments in favor of the legislation.

Still, Republicans said the potential job losses outweighed those findings. Brendan Buck, a spokesman for House Speaker John Boehner, said the CBO report “confirms what we’ve long known.”

“With unemployment Americans’ top concern, our focus should be creating - not destroying - jobs for those who need them most,” Buck said in a statement.

Hank Greenberg

Maurice “Hank” Greenberg, a Republican donor and former CEO of American International Group Inc., said his party was on the wrong side of the issue. A Jan. 8 poll by Quinnipiac University found that 71 percent of Americans, including 52 percent of Republicans, support a higher minimum wage.

“The Republicans must not be viewed as the party that killed it,” Greenberg said today in a Bloomberg Television interview. “If they do that, they’re going to have a tough time in the forthcoming elections. So from a practical point of view I’d hope they’d get it done.”

Next Page
No comments on this story | Add your comment
Please log in or register to add your comment
Calendar
PBN Hosted
Events

Only a few seats remain for PBN's Manufacturing Awards Dinner and Ceremony, Thursday, April 24th, at the Bryant University Bello Center. Don't hesitate. Register today!
  • Business Women
    Accomplished. Confident. Wicked Smart. Nominate women you know who deserve speci ...
  • 40 Under Forty
    It's the 10th Anniversary of 40 Under Forty, and PBN is planning a special event ...
  • Healthiest Employers
    Enrollment now open for the 2014 Healthiest Employers Program. Please take a mom ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News