NFIB/Colorado is joining other business groups to oppose Amendment 70, which, if passed, would make our state less competitive.
This November, Colorado voters will be asked to vote for Amendment 70—a measure that would increase the minimum wage in Colorado to $12 per hour by 2020, and allow it to continue to grow with inflation each year thereafter.
- This summer, Economics International Corp. released a study that projects that 90,000 jobs in Colorado will be lost by 2022 if this initiative passes. Further, this study found that the state would lose up to $3.9 billion annually in lost wages once the measure is fully implemented.
- Additional studies related to these types of minimum-wage increases had similar findings. In February of this year, the Congressional Budget Office stated that a federal minimum-wage increase to $10.10, would cost 500,000 jobs across the country.
- In July, the University of Washington released a study on Seattle’s minimum wage increase, which was bumped to $11/hour in 2015. A recent review of that measure concluded that the minimum-wage hike actually caused weekly earnings to drop and the unemployment rate among minimum-wage earners in that city has increased.