Colorado small business owners prepare to pay workers more

Date: November 15, 2016 Last Edit: November 18, 2016

But many are relieved that ColoradoCare will not happen.

Colorado small business owners prepare to pay workers more

Colorado small business owners were watching closely Tuesday
as voters supported Amendment 70 but opposed Amendment 69.

Amendment 70 will raise Colorado’s current $8.31 an hour
minimum wage to $12 an hour by 2020 in increments. Amendment 69, also known as
ColoradoCare, would have created a universal healthcare system in Colorado.

Opponents of the minimum wage increase, including NFIB, fear
that the hike will hurt the state economy.

“When labor costs increase, then employers can do nothing
but do everything they can to reduce that labor cost,” NFIB/CO State Director Tony Gagliardi told KUNC. “That will be
through a reduction of hours or less full-time positions. It also eliminates
that entry level job for the 16- to 25-year-old.”

Minimum wage will now rise to $9.30 on Jan. 1, $10.20 in
2018, $11.10 in 2019, and $12 in 2020. Tips earned by employees can only count
toward only $3.02 of that wage, the Coloradoan reported.

Small business owners were also alarmed at the cost of ColoradoCare, which
would’ve required a $25 billion tax increase in just its first year.

“Amendment 69 had nothing to do with the improvement of healthcare but everything to do with higher taxes, bigger government, and decisions made by a 21-member, unaccountable board,” said Gagliardi.

Subscribe For Free News And Tips

Enter your email to get FREE small business insights. Learn more

Get to know NFIB

NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.

Learn More

Or call us today

© 2001 - 2022 National Federation of Independent Business. All Rights Reserved. Terms and Conditions | Privacy