Presidential Candidate Says States Should Decide On Increases
The 2016 election cycle continues to be eventful, as presidential candidates delve more deeply into policy proposals ahead of the general election. GOP presidential candidate Donald Trump has come forward with more details about policy proposals that would impact small businesses. In particular, Trump’s recent comments on the minimum wage are of note for the business community. Politico reported that on Sunday, Trump discussed his evolving views on the minimum wage, suggesting that although “he wants to see the minimum wage increased,” he “would rather it be done by the states than the federal government.” Politico suggested that Trump’s comments on Sunday represented “a reversal from his previous stance that the minimum wage should not be raised,” including comments during a debate last year when he said “wages were ‘too high.’” Trump told NBC’s Meet The Press on Sunday that “his reversal was the result of traveling around the country talking to working-class people.” La Opinión (CA), a Spanish-language daily in Los Angeles, reports on the NBC interview, saying Trump “relegated the responsibility to the state governments.” He admits that does not “know how people live with $7.25 an hour” and that he would like to see an “increase of certain magnitude.” Trump told ABC’s This Week that “people have to get more.”
What This Means For Small Businesses
Small business owners want to pay their employees fair wages for their work. However, mounting labor costs, including rising wages, continue to put a squeeze on the bottom lines of small businesses across the US. The minimum wage is a key issue for small businesses during this election cycle. It remains to be seen whether there are presidential candidates who will work to implement policies, whether regarding minimum wages or other issues, that will be in the best interests of the small business community.
Additional Reading
Reuters also reports on Trump’s comments about the minimum wage.
Note: this article is intended to keep small business owners up on the latest news. It is not meant as an endorsement of any candidate and does not necessarily represent the policy stances of NFIB.
