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

July 11, 2025
Understanding New York State Credit Card Surcharge Guidelines
Passed last year, the “Credit Card Surcharge Law” limits credit card su…
Read More
July 11, 2025
Vermont Job Posting Transparency Law Takes Effect
As of 7/1/2025, most job postings require a good faith pay range.
Read More
A restaurant owner working on his computer while wearing a white smock
July 11, 2025
ICYMI: Watch the Latest NFIB Minnesota Webinar
NFIB Minnesota recently held a webinar to discuss what happened during the…
Read More
Masters who make jewelry from Venetian glass in their workshop
July 11, 2025
NFIB South Dakota Reacts to New Optimism Report
NFIB South Dakota State Director Jason Glodt reacts to Small Business Optim…
Read More

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