While big business may support a much higher minimum wage because it would give them a competitive advantage, a $15 per hour federal minimum wage would make it that much harder for small business to recover and survive.

Small businesses ranked “Unreasonable Government Regulations” as one of their top 10 most severe business problems in a 2020 study by the NFIB Research Center. NFIB is urging the new U.S. Dept. of Labor to understand and consider 6 small business principles in the development of any regulatory initiatives.

In a letter to the U.S. House and a letter to the U.S. Senate, NFIB urged Congress not to saddle small business owners with the Raise the Wage Act of 2021.

In a CNBC story today, NFIB voices Main Street’s opposition to President Biden’s $15 federal minimum wage proposal in Congress. Small businesses know these policies will make it even harder for them to compete against big business.