Skip to content

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

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.

Get to know NFIB

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

Receive our newsletter and email notification
Knowledge is power. Let us help you stay informed with breaking legislative news, regulatory updates, business tips, and more.

Related Articles

October 31, 2025
Colorado Small Business Owners Participate in Roundtable Discus…
Small business owners gather together to meet with state lawmakers, discuss…
Read More
October 31, 2025
READ: Rep. Gail Griffin on Arizona’s Effective Groundwater Ma…
In a new op-ed, Rep. Griffin highlights the states’ tools to manage groun…
Read More
October 31, 2025
 AUDIO: NFIB’s Jeff Brabant Joins the Lars Larson Show, Urge…
WASHINGTON, D.C. (Oct. 31, 2025) – NFIB Vice President of Federal Governm…
Read More
In Front of the Massachusetts State House in Boston
October 30, 2025
Beacon Hill Update
Numerous legislative proposals were heard in committee meetings over the la…
Read More

© 2001 - 2025 National Federation of Independent Business. All Rights Reserved. Terms and Conditions | Privacy Policy | Accessibility