Can Minnesota Small Businesses Afford A $20/Hour Minimum Wage?

March 20, 2024 Last Edit: July 22, 2024

Minnesota lawmakers are weighing a bill that would nearly double the state minimum wage over the next four years.

Recently, the Minnesota Senate Labor Committee heard a bill that would raise the state minimum wage to $20/hour for ALL EMPLOYERS.

Under the proposal, the minimum wage would jump by nearly 40% – to $15/hour – starting in August 2024. From there, it would increase by $1.25 per year until reaching $20/hour in 2028. After that, it would be indexed to inflation with no cap on the yearly increase.

This bill goes even further than the Minneapolis-St. Paul $15/hour minimum wage. Researchers from the Minneapolis Federal Reserve found those cities’ wage hikes had a devastating impact on retail and hospitality businesses. The effect will be even worse with a $20/hour minimum wage.

This proposal is completely out of touch with the reality facing small business owners today and will only make labor costs an even bigger problem for many employers.

Your voice can make a difference. CLICK HERE to tell your lawmakers to STOP the $20/hour minimum wage.

Topics:

Economy

Labor

Regulations

State:

Minnesota

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