WASHINGTON, DC – Today, Congressman Scott Fitzgerald offered an amendment at a committee markup of the Democrats’ $1.9 trillion budget reconciliation scheme. The amendment directs the Administrator of the Small Business Administration (SBA) to submit a report to Congress on the impact an increase in the federal minimum wage to $15 would have on small businesses. Democrats blocked this common-sense proposal by a voice vote.
Congressman Fitzgerald’s remarks prepared for delivery:
“Thank you, Madam Chair. This amendment is simple. It directs the Administrator of the Small Business Administration to submit a report to Congress on the impact an increase in the federal minimum wage to $15.00 per hour would have on small businesses.
“I know firsthand the determination, spirit, and time that goes into running a small business and how delicate the financial situation can be.
“The pandemic has presented unprecedented challenges for countless businesses over the last year. Especially during this difficult time, the government should be a resource to create jobs – not take them away.
“The Congressional Budget Office projects that 1.4 million jobs will be lost from a $15 national minimum wage. Further studies have indicated similar negative consequences from a $15 minimum wage.
“The National Federation of Independent Business’ (NFIB) Research Center recently released the results of a survey in which 74% of respondents indicated that a $15 minimum wage would have a negative impact on their business. Notably, 0% of respondents said that the minimum wage increase would have a positive impact on their business…
“…For the reasons I’ve stated, we need to learn more about the impact of the Democrat proposal to more than double the federal minimum wage and particularly the impact that such a change would have on small businesses in the middle of a pandemic.
“I urge my colleagues to support this amendment and I yield back the balance of my time.”